Puts Purchased on Alaska Air Group, Inc.

Shares of Alaska Air Group, Inc. ALK are higher on the session by 1.06%, currently trading at 68.61. The stock has been moving largely higher over the past five months and is currently trading above the 50-day moving average. Options traders are buying puts on the name today. A short while ago the August 2011 $60.00 put was purchased 800 times, on the offer, on open interest of 34 contracts. The Oct $55 put also traded 800 times on open interest of 928 contracts. Overall put volume is now running at 8.74x the daily average with 98% of all puts traded being purchases on the offer. Alaska Air Group, Inc. has two principal subsidiaries: Alaska Airlines, Inc. and Horizon Air Industries, Inc. Air Group, through these subsidiaries, provides passenger air service to more than 23 million passengers per year to more than 90 destinations.