Puts Purchased on PPL Corporation (PPL)

Shares of PPL Corporation PPL are lower on the session by 0.12%, currently trading at $25.78. The stock has been moving largely lower over the past four months and is currently trading below the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short while ago the February 2011 $26.00 put was purchased 4,300 times, on the offer, on open interest of only 455 contracts. This signals new positioning on the name. Overall put volume is now running at 3.64x the daily average with 97% of all puts traded being purchases on the offer. PPL Corporation is an energy and utility holding company. Through its subsidiaries, PPL generates electricity from power plants in the northeastern and western United States, markets wholesale or retail energy primarily in the northeastern and western portions of the United States, and delivers electricity to approximately four million customers in Pennsylvania and the United Kingdom.