Downside Sold on Kennametal (KMT)

Shares of Kennametal Inc. KMT are lower on the session by 4.10%, currently trading $27.37. The stock has been falling as of late and is now in jeopardy of breaking through the 200-day moving average. Options traders are betting that the level is held, though. The December $25 put was sold on the bid 4,000 times today for $2.50. There was no open interest of the strike. Put volume is now running at 20.83x the daily average. Kennametal Inc. is a supplier of tooling, engineered components and advanced materials consumed in production processes.