Protection Purchased on Millipore Corp. (MIL)

Shares of Millipore Corp. MIL are flat on the session, currently trading at $106.74. The stock has been trading largely sideways for the past few months. Options traders are buying protection on the name today with the January $105.00 put purchased 952 times, on the offer for $0.10. Open interest on the strike is 2,179 contracts. Put volume was running at 4x the daily average. Millipore Corporation is a life science company. The company's products and services are used in life science research, drug discovery, process development and drug manufacturing. Its Bioscience Division provides products and technologies to life science research and development activities.