Puts Purchased on Schweitzer-Mauduit International, Inc. (SWM)

Shares of Schweitzer-Mauduit International, Inc. SWM are lower on the session by 8.11%, currently trading at $47.92. The stock has been moving largely lower over the past six 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 April 2011 $45.00 put was purchased 637 times, on the offer, on open interest of 13 contracts. Overall put volume is now running at 8.65x the daily average with 85% of all puts traded being purchases on the offer. Schweitzer-Mauduit International, Inc. is a multinational diversified producer of specialty papers. SWM manufactures and sells paper and reconstituted tobacco products to the tobacco industry, as well as specialized paper products for use in other applications.