Puts Purchased on Dana Holding Corp. (DAN)

Shares of Dana Holding Corporation DAN are higher on the session by 1.92%, currently trading at $11.94. The stock has been moving largely sideways for the past six months, though has had a hard time near these levels in the past. Options traders are buying a bit of protection today. A short while ago the October $11.00 put was purchased 1,200 times, on the offer, on open interest of just 39 contracts. This signals new positioning on the strike. Put volume is now running at 6.73x the daily average. Dana Holding Corporation is a supplier of axle, driveshaft, structural, sealing and thermal management products for global vehicle manufacturers. It designs and manufactures products for every vehicle producer in the world. The company serves three primary markets: Light vehicle market, Medium/heavy market and Off-Highway market. For more great research like this, as well as how to play it through options…please visit Benzinga's Options & Volatility Edge and Benzinga's Cash Generator.