Puts Purchased on Medicis Pharmaceutical Corporation

Shares of Medicis Pharmaceutical Corporation MRX are higher on the session by 0.58%, currently trading at $37.96. The stock has been moving largely higher over the past six 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 January 2012 $10.00 put was purchased 1,900 times, on the offer, on open interest of 4,077 contracts. Overall put volume is now running at 68.30x the daily average with 95% of all puts traded being purchases on the offer. Medicis Pharmaceutical Corporation is a specialty pharmaceutical company focusing primarily on helping patients attain a healthy and youthful appearance and self-image through the development and marketing in the United States of products for the treatment of dermatological and aesthetic conditions.