Puts Purchased on FirstEnergy Corp. (FE)

Shares of FirstEnergy Corp. FE are lower on the session by 0.05%, currently trading at $37.35. 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 January 2011 $37.50 put was purchased 1,100 times, on the offer, on open interest of only 842 contracts. This signals new positioning on the name. Overall put volume is now running at 3.40x the daily average with 89% of all puts traded being purchases on the offer. FirstEnergy Corp. operates as a diversified energy company. The company, through its subsidiaries and affiliates, involves in the generation, transmission, and distribution of electricity, as well as energy management and other energy-related services.