Puts Purchased on Temple-Inland Inc. (TIN)

Shares of Temple-Inland Inc. TIN are lower on the session by 1.12%, currently trading at $22.03. The stock has been moving largely lower over the past two months and is currently consolidating between the 50-day and 200-day moving averages.

Options traders are buying puts on the name today. A short while ago the March 2011 $22.00 put was purchased 5,200 times, on the offer, on open interest of 13,185 contracts.

Overall put volume is now running at 4.44x the daily average with 74% of all puts traded being purchases on the offer.

Temple-Inland Inc. manufactures corrugated packaging and building products, which the company considers as two separate operating segments. The company's vertically integrated corrugated packaging operation includes seven mills and 63 converting facilities.