Puts Sold on Vector Group (VGR)

Shares of Vector Group Ltd. VGR are higher on the session by 0.10%, currently trading at $19.10. The stock has been moving largely higher over the past six months, running higher seemingly unabated. The stock is trading at near its 52-wekk high of $19.30. Options traders are selling puts on the name today. The August $20 put traded 659 times on open interest of 743 contracts and the February 2011 $20 put trade 659 times on no open interest. This is clearly a roll of protection/hedging from August to February. Put volume is now running at 122x the daily average. Vector Group Ltd. is a holding company. The company is engaged in the manufacture and sale of cigarettes in the United States through its Liggett Group LLC and Vector Tobacco Inc., research relating to reduced risk cigarette products through its Vector Tobacco Inc., and the real estate business through its New Valley LLC, which is seeking to acquire additional operating companies and real estate properties.