Puts Purchased on Eaton Corporation (ETN)

Shares of Eaton Corporation ETN are lower on the session by 0.47%, currently trading at $103.17. The stock has been moving largely higher over the past six 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 February 2011 $95.00 put was purchased 1,499 times, on the offer, for $1.45 on open interest of only 47 contracts. This signals new positioning on the name. Overall put volume is now running at 2.29x the daily average with 99% of all puts traded being purchases on the offer. Eaton Corporation is a diversified power management company. The company is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.