Protection Purchased on EMC Corp.

Shares of EMC Corp. NYSE are lower on the session by 3.99%, currently trading $17.34. The stock has recently broken through the 50-day moving average and is now testing the 200-day moving average. I am detecting puts purchased in the name with traders coming for the June $17 puts right at the opening bell. The strike was purchased nearly 3,000 times on open interest on only 1,949 contracts, signaling new, bearish positioning. EMC Corporation develops, delivers and supports the information technology (IT) industry's range of information infrastructure and virtual infrastructure technologies and solutions.