Puts Purchased on SAP AG

Shares of SAP AG SAP are higher on the session by 3.26%, currently trading at $62.07. The stock has been moving largely lower over the past two months and is currently consolidating between the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short while ago the July 2011 $60.00 put was purchased 1,000 times, on the offer, on open interest of 63 contracts. Overall put volume is now running at 5.38x the daily average with 100% of all puts traded being purchases on the offer. SAP AG is engaged in enterprise applications in terms of software and software-related service revenue. The company's core business is selling licenses for software solutions and related services to deliver a range of choices fitting the varying functional needs of its customers.