Puts Purchased on Sterlite Industries Limited (SLT)

Shares of Sterlite Industries Limited SLT are higher on the session by 3.18%, currently trading at $15.16. The stock has been moving largely lower over the past four months, but has recently popped higher, above the 50-day moving average. Options traders are buying puts on the name today. A short while ago the September 2011 $12.50 put was purchased 1,500 times, on the offer, on open interest of 15,832 contracts. Overall put volume is now running at 2.97x the daily average with 99% of all puts traded being purchases on the offer. Sterlite Industries Limited is a non-ferrous metals and mining company. The company is a subsidiary of Vedanta Resources plc. Its main subsidiaries are Hindustan Zinc Limited, Bharat Aluminium Company Limited and Sterlite Energy.