Puts Purchased on Tanzanian Royalty Exploration (TRE)

Shares of Tanzanian Royalty Exploration TRE are lower on the session by 0.84%, currently trading at $7.05. 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 July 2011 $7.00 put was purchased 2,400 times, on the offer, on open interest of 168 contracts. Overall put volume is now running at 6.35x the daily average with 86% of all puts traded being purchases on the offer. Tanzanian Royalty Exploration Corporation is a mineral resource company with exploration stage properties. The Company's general area of interest has been in the exploration of gold properties, with a focus on exploring for gold properties in Tanzania.