Puts Purchased on Louisiana Pacific Corp. (LPX)

Shares of Louisiana Pacific Corp. LPX are lower on the session by 3.06%, currently trading at $6.96. The stock has been moving largely sideways for the past three months, though looks like it may be in a bottoming pattern. Options traders are buying protection on the name today. The August $7.50 put was purchased 1,700 times, on the offer, just moments ago; open interest on the strike is 8,522 contracts. Note that these options expire this week, thus this may be a closing transaction. Put volume is now running at 2.08x the daily average. Louisiana-Pacific Corporation is principally engaged in the manufacturing of building products. The company operates in three segments: Oriented Strand Board, Siding and Engineered Wood Products. The OSB segment manufactures and distributes OSB structural panel products. Is LPX a Buy, Sell or Hold? Click Here.