Puts Purchased on Sterlite Industries (SLT)

Shares of Sterlite Industries Limited SLT are lower on the session by 1.03%, currently trading at $15.41. The stock has been moving largely higher over the past two months and is currently above the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short while ago the November $15.00 put was purchased 3,600 times, on the offer, for $0.45 on open interest of 3,735 contracts. Overall put volume is now running at 8.96x the daily average, with 100% of all puts traded being purchases on the offer. Sterlite Industries Limited is a non-ferrous metals and mining company. The company is a subsidiary of Vedanta Resources plc. Its main subsidiaries are Hindustan Zinc Limited, Bharat Aluminium Company Limited and Sterlite Energy. It is engaged in copper, zinc, aluminum and commercial power generation.