Puts Purchased on Cracker Barrel Old Country Store

Shares of Cracker Barrel Old Country Store CBRL are lower on the session by 10.35%, currently trading at $47.65. The stock has been moving largely higher over the past three months, but it is currently trading below the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short while ago the June 2011 $45.00 put was purchased 1,200 times, on the offer, on open interest of 1,218 contracts. Overall put volume is now running at 14.38x the daily average with 82% of all puts traded being purchases on the offer. Cracker Barrel Old Country Store, Inc. is principally engaged in the operation and development of the Cracker Barrel Old Country Store restaurant and retail concept. As of September 21, 2010, it operated 595 full-service restaurants and gift shops in 41 states.