Puts Purchased on Campbell Soup Company (CPB)

Shares of Campbell Soup Company CPB are lower on the session by 2.04%, currently trading at $34.12. The stock has been moving largely sideways over the past six months, though recently came under selling pressure and is currently trading below the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short while ago the January 2011 $35.00 put was purchased 3,000 times, on the offer, for $1.65 on open interest of only 22 contracts. This signals new positioning on the name. Overall put volume is now running at 10.22x the daily average with 92% of all puts traded being purchases on the offer. Campbell Soup Company, together with its subsidiaries, is a manufacturer and marketer of convenience food products. The company operates in four segments: U.S. Soup, Sauces and Beverages; Baking and Snacking; International Soup, Sauces and Beverages, and North America Foodservice.