Puts Purchased on Smithfield Foods

Shares of Smithfield Foods

are higher on the session by 0.50%, currently trading at $22.16. The stock has been moving largely higher over the past five weeks and is currently trading above the 200-day moving average. Options traders are buying puts on the name today. A short while ago the October 2011 $23 put traded 600 times on open interest of 844 contracts. The Sept $24 and $22 puts is also active Overall put volume is now running at 3.47x the daily average with 95% of all puts traded being purchases on the offer. Smithfield Foods, Inc., together with its subsidiaries, produces and markets a range of fresh meat and packaged meat products both domestically and internationally.