Protection Purchased on KLA-Tencor (KLAC)

Shares of KLA-Tencor Corp. KLAC are lower on the session by 1.51%, currently trading at $29.34. The stock has been in a downward trending channel for the past six months; recently the stock failed to regain key moving averages, which is a bearish sign. Options traders are buying protection today. The August $30 put was purchased 1,500 times, on the offer, for $2.30; open interest on the strike is 39 contracts, which signals new, bearish positioning. Put volume is now running at 2.4x the daily average. KLA-Tencor Corporation is a supplier of process control and yield-management solutions for the semiconductor and related nanoelectronics industries.