Puts Purchased on Complete Production Services (CPX)

Shares of Complete Production Services CPX are lower on the session by 2.70%, currently trading at $28.89. 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 July 2011 $22.50 put was purchased 2,500 times, on the offer, on open interest of 3,031 contracts. Overall put volume is now running at 22.95x the daily average with 95% of all puts traded being purchases on the offer. Complete Production Services, Inc. provides specialized services and products focused on helping oil and gas companies to develop hydrocarbon reserves and enhance production. The company focuses its operations on basins within North America.