Puts Purchased on Boise Inc.

Shares of Boise Inc. BZ are lower on the session by 2.51%, currently trading at $7.78. The stock has been moving largely lower over the past three months and is currently trading below the 200-day moving average. Options traders are buying puts on the name today. A short while ago the September 2011 $8.60 put was purchased 2,000 times, on the offer, on open interest of 2,598 contracts. Overall put volume is now running at 4.70x the daily average with 97% of all puts traded being purchases on the offer. Boise Inc. is a manufacturer of packaging products and papers, including corrugated containers, containerboard, label and release and flexible packaging papers, imaging papers for the office and home, printing and converting papers, newsprint, and market pulp.