Puts Purchased on CBS Corporation (CBS)

Shares of CBS Corporation CBS are lower on the session by 2.14%, currently trading at $23.29. 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 $22.50 put was purchased 2,500 times, on the offer, on open interest of 621 contracts.

Overall put volume is now running at 2.44x the daily average with 88% of all puts traded being purchases on the offer.

CBS Corporation is a mass media company with operations in Entertainment, Cable Networks, Publishing, Local Broadcasting and Outdoor segments.