Puts Purchased on Banco Bradesco (BBD)

Shares of Banco Bradesco BBD are lower on the session by 0.25%, currently trading at $20.19. The stock has been moving largely lower over the past three months and is currently consolidating above the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short while ago the June 2011 $20.00 put was purchased 4,000 times, on the offer, for $1.48 on open interest of 2,939 contracts. Overall put volume is now running at 2.78x the daily average with 99% of all puts traded being purchases on the offer. Banco Bradesco S.A. is a private sector commercial bank operating in Brazil. It offers a range of banking and financial products and services in Brazil and abroad to individuals, large, mid sized and small companies, and major local and international corporations and institutions.