Puts Purchased on Career Education Corporation (CECO)

Shares of Career Education Corporation CECO are lower on the session by 0.35%, currently trading at $20.21. The stock has been moving largely higher over the past two months and is currently consolidating between the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short while ago the February 2011 $17.00 put was purchased 2,000 times, on the offer, on open interest of 3,937 contracts. Overall put volume is now running at 4.19x the daily average with 96% of all puts traded being purchases on the offer. Career Education Corporation, through its subsidiaries, provides educational services primarily in the United States. The company operates schools, colleges, and universities that offer doctoral degree, master's degree, bachelor's degree, and associate degrees, as well as diploma and certificate programs in various career oriented disciplines.