Puts Purchased on Ensco plc (ESV)

Shares of Ensco plc ESV are lower on the session by 0.02%, currently trading at $52.86. The stock has been moving largely higher over the past six 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 February $50.00 put was purchased 3,600 times, on the offer, on open interest of only 671 contracts. This signals new positioning on the name. Overall put volume is now running at 3.77x the daily average with 96% of all puts traded being purchases on the offer. Ensco plc, formerly Ensco International plc, is an offshore contract drilling company. As of February 15, 2010, Ensco's offshore rig fleet included 42 jackup rigs, four ultra-deepwater semisubmersible rigs and one barge rig.