Puts Purchased on TCF Financial Corporation (TCB)

Shares of TCF Financial Corporation TCB are lower on the session by 2.59%, currently trading at $15.79. The stock has been moving largely higher over the past four 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 $15.00 put was purchased 5,000 times, on the offer, on open interest of only 360 contracts. This signals new positioning on the name.

Overall put volume is now running at 13.49x the daily average with 70% of all puts traded being purchases on the offer.

TCF Financial Corporation is a financial holding company. The company's subsidiary is TCF National Bank. TCF Bank operates bank branches in Minnesota, Illinois, Michigan, Colorado, Wisconsin, Indiana, Arizona and South Dakota.