Puts Purchased on China Mobile

Shares of China Mobile CHL are higher on the session by 0.39%, currently trading at $49.22. The stock has been moving largely higher over the past three 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 $47.50 put traded 1,577 times on open interest of 107 contracts. Overall put volume is now running at 2.02x the daily average with 97% of all puts traded being purchases on the offer. China Mobile Limited provides a range of mobile telecommunications services in 31 provinces, autonomous regions and directly-administered municipalities in the People's Republic of China, as well as in the Hong Kong Special Administrative Region of the People's Republic of China.