Puts Purchased on China Mobile (CHL)

Shares of China Mobile LTD CHL are lower on the session by 0.56%, currently trading at $49.66. The stock has been moving largely sideways for the past six months, though it is currently trading above both the 50-day and 200-day moving averages. Options traders are picking up some protection today; the July $45.00 put was bought 1,500 times, near the offer. Open interest is 3,217 contracts. Put volume is now running at 2.02x the daily average with 70% of all puts traded being purchases on the offer. China Mobile Limited provides a range of mobile telecommunications services in all 31 provinces, autonomous regions and directly administered municipalities in Mainland China, as well as in the Hong Kong Special Administrative Region of the People's Republic of China. Its businesses primarily consist of voice business and value-added business.