Puts Purchased on Tech Data Corporation (TECD)

Shares of Tech Data Corporation TECD are lower on the session by 1.83%, currently trading at $50.95. The stock has been moving largely higher over the past six months and is currently trading above the 200-day moving average. Options traders are buying puts on the name today. A short while ago the May 2011 $50.00 put was purchased 3,000 times, on the offer, for $1.55 on open interest of 255 contracts. Overall put volume is now running at 59.97x the daily average with 98% of all puts traded being purchases on the offer. Tech Data Corporation is a distributor of information technology products, logistics management and other value-added services. The company serves approximately 125,000 value-added resellers, direct marketers, retailers and corporate resellers in more than 100 countries throughout North America, Latin America and Europe.