Puts Purchased on Discovery Communications (DISCK)

Shares of Discovery Communications DISCK are lower on the session by 0.96%, currently trading at $34.99. The stock has been moving largely lower over the past three months and is currently trading below the 50-day moving average. Options traders are buying puts on the name today. A short while ago the January $35.00 put was purchased 2,000 times, on the offer, on open interest of only 374 contracts. This signals new positioning on the name. Overall put volume is now running at 29.59x the daily average with 100% of all puts traded being purchases on the offer. Discovery Communications Inc. is a global media and entertainment company that provides original and purchased programming across multiple distribution platforms in the United States and over 170 other countries.