Puts Purchased on ON Semiconductor Corporation

Shares of ON Semiconductor Corporation ONNN are lower on the session by 0.39%, currently trading at $10.12. The stock has been moving largely lower over the past two months though it is currently trading above the 200-day moving average. Options traders are buying puts on the name today. A short while ago the July 2011 $10.00 put was purchased 980 times, on the offer, on open interest of 1,945 contracts. The July $9 put also traded 980 times. This looks like a long put spread. Overall put volume is now running at 14.09x the daily average with 100% of all puts traded being purchases on the offer. ON Semiconductor Corporation is a supplier of silicon solutions for energy electronics. The company designs, manufactures and markets a portfolio of semiconductor components.