Notable Put Options Activity in Ascena Retail Group

Shares of Ascena Retail Group (NASDAQ:

) are higher on the session by 4.75%, currently trading at $40.80. The stock has been moving largely higher over the past three months and is currently trading above the 50-day moving average. Options traders are focusing on puts today. The strike seeing the heaviest action is the June 2012 $40.00 put, which has traded 1,800 times on open interest of 790 contracts. The Jun2012 $30.00 put also traded 1,680 times on 3,421 contracts. Put volume is outpacing call volume by 2.5 to 1.