Notable Put Options Activity in Saks

Shares of Saks (NYSE: SKS) are higher on the session by 0.22%, currently trading at $9.29. The stock has been moving largely lower over the past two weeks and is currently trading below the 50-day moving average.

Options traders are focusing on puts today. The strike seeing the heaviest action is the January 2012 $10.00 put, which has traded 879 times on open interest of 25,168 contracts.

Put volume is outpacing call volume by 4 to 1.

Saks Incorporated is a fashion retail company offering an assortment of luxury fashion apparel, shoes, accessories, jewelry, cosmetics, and gifts. The company is primarily focused on the luxury retail sector.