Puts Purchased on Sysco Corporation

Shares of Sysco Corporation SYY are higher on the session by 1.02%, currently trading at $30.76. The stock has been moving largely higher over the past three months and is currently trading above the 200-day moving average. Options traders are buying puts on the name today. A short while ago the January 2012 $30.00 put was purchased 4,500 times, on the offer, on open interest of 1,785 contracts. Overall put volume is now running at 7.24x the daily average with 98% of all puts traded being purchases on the offer. Sysco Corporation, along with its subsidiaries and divisions, is a North American distributor of food and related products primarily to the foodservice or food-away-from-home industry.