Puts Purchased on The St. Joe Company (JOE)

Shares of The St. Joe Company JOE are higher on the session by 0.73%, currently trading at $22.14. The stock has been moving largely lower over the past six 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 March 2011 $23.00 put was purchased 2,500 times, on the offer, for $2.65 on open interest of only 153 contracts. This signals new positioning on the name. Overall put volume is now running at 2.20x the daily average with 82% of all puts traded being purchases on the offer. The St. Joe Company, together with its subsidiaries, operates as a real estate development company in Florida. The company operates in four segments: Residential Real Estate, Commercial Real Estate, Rural Land Sales, and Forestry.