Puts Purchased on ION Geophysical

Shares of ION Geophysical IO are lower on the session by 2.86%, currently trading at $9.85. 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 August 2011 $9.00 put traded 3,300 times on open interest of 217 contracts. Overall put volume is now running at 108.92x the daily average with 81% of all puts traded being purchases on the offer. ION Geophysical Corporation is a technology-focused seismic solutions company, which provides acquisition equipment, software and planning and seismic processing services to the global energy industry.