Puts Purchased on ReneSola (SOL)

Shares of ReneSola SOL are higher on the session by 0.50%, currently trading at $10.06. The stock has been moving largely lower over the past four months, though it 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 July 2011 $5.00 put was purchased 3,800 times, on the offer, for $0.20 on open interest of only 90 contracts. This signals new positioning on the name. Overall put volume is now running at 8.70x the daily average with 94% of all puts traded being purchases on the offer. ReneSola Ltd. is a manufacturer of solar wafers and producer of solar power products based in China. The company possess a global network of suppliers and customers that include some of the global manufacturers of solar cells and modules.