Puts Purchased on H.J. Heinz Company (HNZ)

Shares of H.J. Heinz Company

are lower on the session by 0.44%, currently trading at $50.15. The stock has been moving largely higher over the past three 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 2011 $40.00 put was purchased 6,000 times, on the offer, on open interest of 6,209 contracts. Overall put volume is now running at 22.29x the daily average with 98% of all puts traded being purchases on the offer. H.J. Heinz Company, together with its subsidiaries, is engaged in manufacturing and marketing a range of food products globally. The company's principal products include ketchup, condiments and sauces, frozen food, soups, beans and pasta meals, infant nutrition and other food products.