Puts Purchased on Virgin Media Inc. (VMED)

Shares of Virgin Media Inc. VMED are higher on the session by 1.98%, currently trading at $27.34. 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 June $21.00 put was purchased 1,200 times, on the offer, on open interest of only 563 contracts. This signals new positioning on the name.

Overall put volume is now running at 2.11x the daily average with 99% of all puts traded being purchases on the offer.

Virgin Media Inc. is engaged in entertainment and communications business. The company has two segments: Consumer and Business. The company is a provider of broadband Internet, television, mobile telephony and fixed line telephony services that offer a variety of entertainment and communications services to residential and commercial customers throughout the United Kingdom.