Puts Purchased on China Medical Technologies

Shares of China Medical Technologies CMED are lower on the session by 12.30%, currently trading at $8.06. The stock has been moving largely lower over the past four 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 $7.00 put was purchased 1,500 times, on the offer, on open interest of 2,014 contracts. Overall put volume is now running at 4.87x the daily average with 74% of all puts traded being purchases on the offer. China Medical Technologies, Inc. is principally engaged in the commercialization, manufacture and sale of medical devices and supplies to customers primarily in the People's Republic of China.