Puts Purchased on San Juan Basin Royalty Trust (SJT)

Shares of San Juan Basin Royalty Trust (NYSE: SJT) are lower on the session by 2.70%, currently trading at $23.80. The stock has been moving largely lower over the past four months and is currently consolidating between the 50-day and 200-day moving averages.

Options traders are buying puts on the name today. Though action has been primarily in small lots, overall put volume is now running at 7.82x the daily average with 94% of all puts traded being purchases on the offer.

Traders are buying the $20, $30, and $25 strikes in multiple months.

San Juan Basin Royalty Trust is an express trust created by the San Juan Basin Royalty Trust Indenture, between Southland Royalty Company and The Fort Worth National Bank.