Puts Purchased on MBIA Inc. (MBI)

Shares of MBIA Inc. MBI are lower on the session by 0.70%, currently trading at $9.92. The stock has been moving largely higher over the past six months and is currently consolidating between the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short while ago the January 2013 $7.50 put was purchased 1,000 times, on the offer, for $2.23 on open interest of only 161 contracts. This signals new positioning on the name. Overall put volume is now running at 2.11x the daily average with 91% of all puts traded being purchases on the offer. MBIA Inc. provides financial guarantee insurance, as well as related reinsurance, advisory and portfolio services for the public and structured finance markets, and investment management services, including advisory services, on a global basis.