Puts Purchased on China Medical Technologies (CMED)

Shares of China Medical Technologies CMED are lower on the session by 0.52%, currently trading at $11.58. The stock has been moving largely lower over the past four months and is currently trading below the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short while ago the January 2012 $5.00 put was purchased 2,000 times, on the offer, on open interest of only 1,662 contracts. This signals new positioning on the name. Overall put volume is now running at 10.92x the daily average with 100% of all puts traded being purchases on the offer. China Medical Technologies, Inc. is principally engaged in the commercialization, manufacture and sale of medical devices and supplies to customers primarily in the People's Republic of China.