Notable Put Options Activity in Blue Nile

Shares of Blue Nile (NASDAQ: NILE) are lower on the session by 27.66%, currently trading at $35.31. The stock had been moving largely higher over the past three months, but it is currently trading below the 50-day moving average.

Options traders are focusing on puts today. A short while ago the November 2011 $45.00 put traded 1,800 times on open interest of 4,012 contracts. The Nov2011 $40.00 put also traded 1,000 times on 1,977 contracts.

Puts are outpacing calls today by 9 to 1.

Blue Nile, Inc. is an online retailer of diamonds and fine jewelry. It has three wholly owned subsidiaries: Blue Nile, LLC, Blue Nile Worldwide, Inc. and Blue Nile Jewellery, Ltd. LLC serves its customers in the United States, Canada and Asia-Pacific