Puts Purchased on ICICI Bank Limited (IBN)

Shares of ICICI Bank Limited IBN are higher on the session by 0.28%, currently trading at $49.39. The stock has been moving largely higher over the past six months, though recently topped and is currently trading below the 50-day moving average. Options traders are buying puts on the name today. A short while ago the December $48.00 put was purchased 5,000 times, on the offer, on open interest of only 1,457 contracts. This signals new positioning on the name. Overall put volume is now running at 2.37x the daily average with % of all puts traded being purchases on the offer. ICICI Bank Limited is a banking company engaged in providing a range of banking and financial services, including commercial banking and treasury operations. It operates under four segments: retail banking, wholesale banking, treasury and other banking.