Puts Purchased on Chimera

Shares of Chimera Investment Corp. (NYSE: CIM) are higher on the session by 4.02%, currently trading at $3.10. The stock has been moving largely lower over the past six months and is currently trading below the 50-day moving average.

Options traders are buying puts on the name today. A short while ago the September 2011 $3.00 put traded 3,600 times on open interest of 940 contracts.

Overall put volume is now running at 3.50x the daily average with 76% of all puts traded being purchases on the offer.

Chimera Investment Corporation is a specialty finance company that invests, either directly or indirectly through its subsidiaries, in residential mortgage-backed securities, residential mortgage loans, commercial mortgage loans, real estate-related securities and various other asset classes.