Puts Purchased on Tyson Foods (TSN)

Shares of Tyson Foods Inc. TSN are lower on the session by 2.24%, currently trading at $17.47. The stock has been drifting lower over the past two months; recently, it failed to regain the 50-day moving average, which is a bearish sign. Options traders are buying puts on the name today. The October $15 strike was purchased 4,000 times, on the offer; open interest on the strike is 8,905 contracts. Put volume is now running at 5.86x the daily average. Tyson Foods, Inc. is a meat protein and food production company. The company produces, distributes and markets chicken, beef, pork, prepared foods and related allied products. It operates in four segments: Chicken, Beef, Pork, and Prepared Foods.