Puts Purchased on CNinsure Inc. (CISG)

Shares of CNinsure Inc. CISG are higher on the session by 1.19%, currently trading at $22.19. The stock has been moving largely lower over the past five months and is currently trading below the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short while ago the April 2011 $17.50 put was purchased 1,700 times, on the offer, on open interest of only 230 contracts. This signals new positioning on the name. Overall put volume is now running at 12.45x the daily average with 94% of all puts traded being purchases on the offer. CNinsure Inc. is an independent insurance intermediary company operating in China. The company had 48,693 sales professionals, 1,421 claims adjustors and 571 sales and service outlets operating in 23 provinces as of April 15, 2010. As an insurance intermediary company, it does not assume underwriting risks.