Puts Purchased on Uranium Resources (URRE)

Shares of Uranium Resources URRE are higher on the session by 6.69%, currently trading at $2.71. The stock has been moving largely lower over the past three 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 July 2011 $2.50 put was purchased 1,500 times, on the offer, on open interest of only 736 contracts. This signals new positioning on the name. Overall put volume is now running at 19.74x the daily average with 75% of all puts traded being purchases on the offer. Uranium Resources, Inc. is a uranium exploration, mine development and production company. It is engaged in acquiring and developing uranium mines in South Texas using the in-situ recovery mining process.