MHS – Medco Health Solutions Inc. – Near-term bearish options investors honed in on August contract puts this morning with shares of the healthcare company trading 3.95% lower on the day to trade at $47.34 as of 11:10 am ET. Medco’s shares fell as much as 5.2% earlier in the session to touch down at a new 52-week low of $46.70. Shares have declined more than 19.2% since July 15, 2010, when the stock traded at a high of $57.82, to reach today’s low point of $46.70. Investors expecting the price of the underlying shares to head lower ahead of expiration day next month purchased approximately 6,800 puts at the August $45 strike for an average premium of $0.75 per contract. Put buyers are positioned to make money should Medco’s shares fall another 6.5% from the current price of $47.34 to breach the effective breakeven point at $44.25 by expiration. The demand for put options on MHS helped lift the overall reading of options implied volatility on the stock 15.5% to 30.74% by 11:20 am ET.