Bears Target Asiainfo

Shares of Asiainfo Holdings (NASDAQ: ASIA) are falling by 1.38% today, currently trading $23.86, and the shares are attracting put buying as well. The May $25 put was just purchased 2,500 times on the offer; open interest on the strike was only 1,433 contracts, indicating new, bearish positioning.

Put activity is now running at 6.12x the daily average with 91% of all puts traded being purchases on the offer. Asiainfo Holdings is struggling to hold the 200-day moving average, which it fell to during the past two weeks.

Asiainfo Holdings provides telecommunications software solutions and information technology (IT) security products and services in China.