Large Put Purchase on McDermott (MDR)

Shares of McDermott International Inc. MDR are lower on the session by 5.14%, currently trading $22.15. The stock has been falling sharply as of late, bouncing off of the $22 level. It does not look like that level with hold, however, as puts are being bought on the name today. The June $21 put was purchased nearly 8,000 times today; open interest on the strike is 1,733 contracts indicating new, bearish positioning. McDermott International, Inc. is a global engineering and construction company with specialty manufacturing and service capabilities.