Traders Grabbing Protection on Iron Mountain (IRM)

Shares of Iron Mountain IRM are lower on the session by 1.55%, currently trading at $26.71. 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 $27.50 put was purchased 2,200 times, on the offer, on open interest of only 10 contracts. This signals new positioning on the name. Overall put volume is now running at 7.11x the daily average with 98% of all puts traded being purchases on the offer. Iron Mountain Incorporated is an information management services company. The company offers records management services, data protection and recovery services, and information destruction services to address information management challenges, such as rising storage costs, litigation, regulatory compliance and disaster recovery.