Puts Purchased on Estee Lauder (EL)

Shares of The Estee Lauder Companies Inc. EL are lower on the session by 2.34%, currently trading at $90.70. 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 October 2011 $85.00 put was purchased 505 times, on the offer, on open interest of 12 contracts.

Overall put volume is now running at 2.96x the daily average with 88% of all puts traded being purchases on the offer.

The Estee Lauder Companies Inc. is a manufacturer and marketer of skin care, makeup, fragrance and hair care products. Its products are sold in over 150 countries and territories under a number of brand names, including Estee Lauder, Aramis, Clinique, Origins, MzAzC, Bobbi Brown, La Mer and Aveda. It is also the global licensee for fragrances and/or cosmetics sold under brand names, such as Tommy Hilfiger, Donna Karan, Michael Kors, Sean John and Coach.