Puts Purchased on Gannett Co. (GCI)

Shares of Gannett Co. GCI are higher on the session by 2.19%, currently trading at $15.87. The stock has been moving largely higher over the past two months and is currently trading above the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short while ago the January 2012 $15.00 put was purchased 2,000 times, on the offer, on open interest of only 711 contracts. This signals new positioning on the name. Overall put volume is now running at 4.30x the daily average with 83% of all puts traded being purchases on the offer. Gannett Co., Inc. is an international media and marketing solutions company. The company publishes 83 daily United States newspapers, including USA TODAY, the daily print newspaper, and more than 650 magazines and other non-dailies, including USA WEEKEND.