Puts Purchased on Nuance Communications

Shares of Nuance Communications NUAN are lower on the session by 0.64%, currently trading at $20.03. The stock has been moving largely lower over the past five weeks and is currently trading below the 50-day moving average. Options traders are buying puts on the name today. A short while ago the August 2011 $19.00 put traded 1,000 times on open interest of 323 contracts. Overall put volume is now running at 3.26x the daily average with 76% of all puts traded being purchases on the offer. Nuance Communications, Inc. is a provider of voice and language solutions for businesses and consumers around the world. The company's solutions are offered in four markets: Healthcare, Mobile and Consumer, Enterprise and Imaging.