Puts Purchased on Computer Sciences Corporation (CSC)

Shares of Computer Sciences Corporation CSC are lower on the session by 0.61%, currently trading at $49.25. The stock had been moving largely higher over the past four 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 May 2011 $50.00 put was purchased 2,000 times, on the offer, on open interest of 20 contracts. Overall put volume is now running at 9.45x the daily average with 72% of all puts traded being purchases on the offer. Computer Sciences Corporation is engaged in information technology and professional services industry. CSC offers an array of services to clients in the commercial and government markets and specializes in the application of complex IT. Its service offerings include IT and business process outsourcing, and IT and professional services.