Puts Purchased on Virgin Media (VMED)

Shares of Virgin Media VMED are lower on the session by 2.02%, currently trading at $24.31. The stock had been moving largely higher over the past six months, but recently came under selling pressure and is now trading below the 50-day moving average. Options traders are buying puts on the name today. A short while ago the January 2012 $12.50 put was purchased 1,000 times, on the offer, on open interest of 1,520 contracts. The Jan 2012 $10.00 put also traded 1,000 times on open interest of 13,784 contracts. Overall put volume is now running at 2.88x the daily average with 96% of all puts traded being purchases on the offer. Virgin Media Inc. is a provider of entertainment and communications services in the United Kingdom, offering quad-play broadband Internet, television, mobile telephony and fixed line telephony services.