Puts Purchased on First American Financial (FAF)

Shares of First American Financial FAF are higher on the session by 0.48%, currently trading at $14.80. The stock has been moving largely sideways over the past six months and is currently trading above the 50-day moving average. Options traders are buying puts on the name today. A short while ago the July 2011 $15.00 put was purchased 1,500 times, on the offer, on open interest of 1,032 contracts. Overall put volume is now running at 19.59x the daily average with 97% of all puts traded being purchases on the offer. First American Financial Corporation provides financial services through its Title Insurance and Services segment and its Specialty Insurance segment. The First American Family of Companies' core business lines include title insurance and closing/settlement services; property data and automated title plant records and images; home warranty products; property and casualty insurance, and banking, trust and investment advisory services.