Puts Purchased on Allis-Chalmers Energy (ALY)

Shares of Allis-Chalmers Energy ALY are higher on the session by 6.87%, currently trading at $7.47. 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 April 2011 $5.00 put was purchased 2,500 times, on the offer, for $0.30 on open interest of only 654 contracts. This signals new positioning on the name. Overall put volume is now running at 27.00x the daily average with 100% of all puts traded being purchases on the offer. Allis-Chalmers Energy Inc. provides services and equipment to oil and natural gas exploration and production companies throughout the Unites States, including Texas, Louisiana, Arkansas, Pennsylvania, Oklahoma, New Mexico, offshore in the Gulf of Mexico, and globally primarily in Argentina, Brazil, Bolivia and Mexico.