Shares of SLM SLM are lower on the session by 2.57%, currently trading at $16.28. The stock has been moving largely higher over the past five months and is currently trading above the 200-day moving average.
Options traders are buying puts on the name today. A short while ago the August 2011 $14.00 put traded 1,000 times on open interest of 65 contracts.
Overall put volume is now running at 2.50x the daily average with 91% of all puts traded being purchases on the offer.
SLM Corporation, known as Sallie Mae, is a holding company that operates through a number of subsidiaries. The company's primary business is to originate, service and collect loans made to students and/or their parents to finance the cost of their education.
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