Puts Purchased on Community Health Systems (CYH)

Shares of Community Health Systems CYH are lower on the session by 27.05%, currently trading at $29.40. The stock had been moving largely higher over the past six months, but it 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 $30.00 put was purchased 4,900 times, on the offer, on open interest of 0 contracts. The April $34, $35, and $38 strikes are also active. Overall put volume is now running at 24.88x the daily average with 77% of all puts traded being purchases on the offer. Community Health Systems, Inc. is an operator of hospitals in the United States. The company provides healthcare services, through the hospitals that it owns and operates throughout the United States. As of December 31, 2009, the company owned or leased 122 hospitals.