Puts Purchased on China Integrated Energy, Inc. (CBEH)

Shares of China Integrated Energy, Inc.

are higher on the session by 4.96%, currently trading at $4.02. The stock has been moving largely lower over the past six months and is currently trading below the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short while ago the May 2011 $2.50 put was purchased 1,985 times, on the offer, on open interest of 327 contracts. Overall put volume is now running at 2.18x the daily average with 73% of all puts traded being purchases on the offer. China Integrated Energy, Inc., formerly China Bio Energy Holding Group Co., Ltd., is an integrated energy company in China engaged in three business segments: the wholesale distribution of finished oil and heavy oil products, the production and sale of biodiesel and the operation of retail gas stations.