Puts Purchased on Salix Pharmaceuticals (SLXP)

Shares of Salix Pharmaceuticals SLXP are lower on the session by 1.83%, currently trading at $47.15. The stock has been moving largely higher over the past two months and is currently trading above the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short while ago the January 2011 $34.00 put was purchased 2,400 times, on the offer, for $0.15 on open interest of 2,491 contracts. This was highly likely a closing transaction. Overall put volume is now running at 18.42x the daily average with 98% of all puts traded being purchases on the offer. Salix Pharmaceuticals, Ltd. is a specialty pharmaceutical company dedicated to acquiring, developing and commercializing prescription drugs used in the treatment of a variety of gastrointestinal diseases, which are affecting the digestive tract.