Protection Purchased on Amerigroup Corp. (AGP)

Shares of Amerigroup Corp. AGP are higher on the session by 1.09%, currently trading at $31.44. The stock has been trading lower as of late, breaking down through the key support level of $32.00. Options traders are buying a bit of protection today. The August $25.00 put was just purchased 3,300 times, near the offer, on open interest of only 50 contracts. This suggests new, bearish positioning on the strike. Put volume is now trading at 36x the daily average. AMERIGROUP Corporation operates as a multistate managed healthcare company. It focuses on serving people, who receive healthcare benefits through publicly sponsored programs, such as Medicaid, Children’s Health Insurance Program, Medicaid expansion programs, and Medicare Advantage. The company’s Medicaid program makes federal matching funds available to various states for the delivery of healthcare benefits to eligible individuals, as well as allows each state to establish its own eligibility standards, benefits package, payment rates, and program administration under broad federal guidelines.