Puts Purchased on HSBC Holdings plc (HBC)

Shares of HSBC Holdings plc HBC are higher on the session by 1.93%, currently trading at $54.51. The stock has been moving largely higher over the past six weeks 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 $50.00 put was purchased 14,000 times, on the offer, on open interest of 24,572 contracts. Overall put volume is now running at 2.20x the daily average with 93% of all puts traded being purchases on the offer. HSBC Holdings plc is a global banking and financial services organizations. As of December 31, 2010, it provided a range of financial services to around 95 million customers through two customer groups, Personal Financial Services, including consumer finance, and Commercial Banking, and two global businesses, Global Banking and Markets, and Global Private Banking.