Puts Purchased on China Automotive Systems

Shares of China Automotive Systems CAAS are lower on the session by 2.91%, currently trading at $8.00. The stock has been moving largely lower over the past six months and is currently trading below the 50-day moving average. Options traders are buying puts on the name today. A short while ago the June 2011 $5.00 put was purchased 1,000 times, on the offer, on open interest of 203 contracts. Overall put volume is now running at 24.42x the daily average with 80% of all puts traded being purchases on the offer. China Automotive Systems, Inc. is a holding company and has no significant business operations or assets other than its interest in Great Genesis Holdings Limited.