Puts Purchased on Cosan Limited (CZZ)

Shares of Cosan Limited CZZ are lower on the session by 0.27%, currently trading at $11.00. 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 December $10.00 put was purchased 1,400 times, on the offer, on open interest of only 543 contracts. This signals new positioning on the name. Overall put volume is now running at 6.75x the daily average with 100% of all puts traded being purchases on the offer. Cosan Limited is a holding company. The company is engaged in the production of ethanol and sugar, the marketing and distribution of fuel and lubricants in Brazil, and logistics services in the state of Sao Paulo, Brazil. It imports, exports, produces and sells ethanol, sugar, sugarcane and other sugar by-products.