Puts Purchased on Yanzhou Coal Mining (YZC)

Shares of Yanzhou Coal Mining Company Limited YZC are lower on the session by 1.44%, currently trading at $28.07. The stock has been moving largely higher over the past six months and is currently trading above the 50-day and 200-day moving averages. Shares are looking to test the 50-day, at $27.50. Options traders are buying puts on the name today. A short while ago the January 2011 $29.00 put was purchased 637 times, on the offer, on no prior open interest. This signals new positioning on the name. The Jan 2011 $24.00 put was also purchased 560 times on open interest of 250 contracts. Overall put volume is now running at 4.87x the daily average with 95% of all puts traded being purchases on the offer. Yanzhou Coal Mining Company Limited is engaged in the mining, preparation and sale of coal, as well as the railway transportation of coal. As of December 31, 2009, the company owned and operated six coal mines: Nantun, Xinglongzhuang, Baodian, Dongtan, Jining II and Jining II.