Puts Purchased on Virgin Media Inc. (VMED)

Shares of Virgin Media Inc. VMED are higher on the session by 4.00%, currently trading at $29.21. 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 January 2012 $15.00 put was purchased 1,000 times, on the offer, on open interest of 1,321 contracts. Overall put volume is now running at 7.33x the daily average with 75% 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.