Puts Purchased on MGIC Investment Corporation

Shares of MGIC Investment Corporation MTG are higher on the session by 0.07%, currently trading at $7.69. The stock has been moving largely lower over the past six 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 July 2011 $7.00 put was purchased 3,000 times, on the offer, on open interest of 79 contracts. Overall put volume is now running at 2.19x the daily average with 83% of all puts traded being purchases on the offer. MGIC Investment Corporation is a holding company. Through its wholly owned subsidiaries, the company provides private mortgage insurance in the United States.