Traders Betting Infosys Pulls Back (INFY)

Shares of Infosys Technologies Limited INFY are higher on the session by 0.60%, currently trading at $66.52. The stock has been running higher on higher for the past two years, off of a $22.00 base put in back in November of 2008. Options traders are picking up some protection on the name today as protection against a pullback. The October $65.00 put was purchased 2,000 times, on the offer, for $1.45 a short while ago; open interest on the strike is 4,864 contracts. Overall call volume is now running at 2.7x the daily average, 76% on the offer. Infosys Technologies Limited is a global technology services company. The company provides end-to-end business solutions. In addition, the company offers software products for the banking industry and business process management services. On December 4, 2009, Infosys BPO Limited acquired 100% interest in McCamish Systems LLC, a business process solutions provider based in Atlanta, Georgia, in the United States. 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.