Notable Put Options Activity in China Gerui Advanced Materials

Shares of China Gerui Advanced Materials

are lower on the session by 9.86%, currently trading at $3.29. The stock has been moving largely lower over the past three months and is currently trading below the 50-day moving average. Options traders are focusing on puts today. A short while ago the October 2011 $2.50 put traded 600 times on open interest of 0 contracts. China Gerui Advanced Materials Group Limited is a non state-owned contract manufacturer of cold-rolled high precision narrow strip steel products. It converts steel manufactured by third parties into thin steel sheets and strips according to the customer's specifications.