Bears Buy Puts on Virgin Media

Shares of Virgin Media Inc. VMED are higher on the session by 2.85%, currently trading $15.90. The stock has been drifting lower as of late, but has held the 200-day moving average, which is a good sign. I am seeing puts purchased on the name, though. The December $12.50 put strike was just purchased 1,682 times for $1.05, near the ask price. There is no open interest on the strike. Virgin Media Inc. is a provider of entertainment and communications services in the United Kingdom, offering quad-play broadband Internet, television, mobile telephony and fixed line telephony services.