Notable Put Options Activity in Saks

Shares of Saks (NYSE: SKS) are lower on the session by 0.43%, currently trading at $9.21. The stock has been moving largely higher over the past six weeks, though it 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 2,200 times on open interest of 24,150 contracts.

Put volume is outpacing call volume by 51 to 1.

Saks Incorporated is a fashion retail company offering an assortment of luxury fashion apparel, shoes, accessories, jewelry, cosmetics, and gifts.