Puts Purchased on Gramercy Capital Corp. (GKK)

Shares of Gramercy Capital Corp. GKK are lower on the session by 4.45%, currently trading at $5.06. 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 2011 $5.00 put was purchased 1,000 times, on the offer, on open interest of 1,010 contracts. Overall put volume is now running at 21.49x the daily average with 100% of all puts traded being purchases on the offer. Gramercy Capital Corp. is an integrated commercial real estate finance and property investment company. Its property investment business, which operates under the name Gramercy Realty, focuses on the acquisition and management of commercial properties leased to regulated financial institutions and affiliated users throughout the United States.