Puts Purchased on Tanzanian Royalty Exploration (TRE)

Shares of Tanzanian Royalty Exploration TRE are higher on the session by 0.78%, currently trading at $6.48. The stock has been moving largely lower over the past six months and is currently consolidating between the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short while ago the April 2011 $7.00 put was purchased 1,400 times, on the offer, on open interest of 4,859 contracts. Overall put volume is now running at 3.10x the daily average with 85% of all puts traded being purchases on the offer. Tanzanian Royalty Exploration Corporation is a mineral resource company with exploration stage properties. The company's general area of interest has been in the exploration of gold properties, with a focus on exploring for gold properties in Tanzania.