Puts Purchased on Mobile TeleSystems (MBT)

Shares of Mobile TeleSystems OJSC MBT are lower on the session by 3.68%, currently trading at $20.42. The stock had been moving largely higher over the past six months, but 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. Though action has been primarily in small lots, overall put volume is now running at 3.93x the daily average with 89% of all puts traded being purchases on the offer. Traders are buying the $20.00 and $21.00 strikes in multiple months. Mobile TeleSystems OJSC is a telecommunications provider in Russia and the Commonwealth of Independent States, providing a range of mobile and fixed line voice and data telecommunications services, including transmission, broadband, pay-television and various value-added services, as well as selling equipment and accessories.