Puts Purchased on Avis Budget Group (CAR)

Shares of Avis Budget Group CAR are lower on the session by 1.26%, currently trading at $14.12. 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 February 2011 $14.00 put was purchased 507 times, on the offer, on open interest of 1,685 contracts. The March 2011 $14.00 put also traded 512 times on open interest of 36 contracts. Overall put volume is now running at 3.14x the daily average with 91% of all puts traded being purchases on the offer. Avis Budget Group, Inc. provides car and truck rentals and ancillary services to businesses and consumers in the United States and internationally. The company operates two brands in the global vehicle rental industry, through Avis and Budget.