Notable Put Options Activity in Best Buy

Shares of Best Buy (NYSE: BBY) are higher on the session by 2.75%, currently trading at $24.68. The stock has been moving largely lower over the past three months and is currently trading below the 50-day moving average.

Options traders are focusing on puts today. A short while ago the September 2011 $20 put traded 16,000 times on open interest of 1,737 contracts.

Best Buy Co., Inc. is a multinational retailer of consumer electronics, home office products, entertainment products, appliances and related services.