Put Buyers Targeting Riverbed Technology (RVBD)

Shares of Riverbed Technology RVBD are lower on the session by 1.03%, currently trading at $35.50. 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 March 2011 $34.00 put was purchased 25,000 times, on the offer, on open interest of only 12,894 contracts. This signals new positioning on the name. Volume on the strikes has since risen to 31,646 contracts. Overall put volume is now running at 2.11x the daily average with 65% of all puts traded being purchases on the offer. Riverbed Technology, Inc. has developed solutions to the fundamental problems associated with information technology (IT) performance across wide area networks (WANs).