Puts Purchased on The Sherwin-Williams Company

Shares of The Sherwin-Williams Company SHW are lower on the session by 0.76%, currently trading at $84.67. The stock has been moving largely higher over the past six months 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 June 2011 $85.00 put was purchased 800 times, on the offer, on open interest of 486 contracts. Overall put volume is now running at 5.33x the daily average with 95% of all puts traded being purchases on the offer. The Sherwin-Williams Company is engaged in the development, manufacture, distribution and sale of paint, coatings and related products to professional, industrial, commercial and retail customers primarily in North and South America, with additional operations in the Caribbean region, Europe and Asia.