AWK – American Water Works Co., Inc. – Shares of the provider of water and wastewater services to residential, commercial and industrial customers in the U.S. and Canada inched up 0.30% today to a high of $22.63. The firm appeared on our ‘hot by options volume’ market scanner during the second half of the session after one strategist initiated a bullish play in the December contract. It looks like the investor sold 3,000 puts at the December $22.5 strike to pocket premium of $1.00 apiece. The trader keeps the full premium received on the sale as long as American Water Works’ shares exceed $22.50 through expiration day in the final month of the year. Put selling, in this case, indicates the investor is happy to have shares of the underlying stock put to him at an effective price of $21.50 each in the event that puts land in-the-money at expiration.