Trader Bets on a Bottom in AAR Corp. (AIR)

Shares of AAR Corp. (NYSE: AIR) are lower on the session by 0.89%, currently trading $17.81. The stock has been falling sharply lower over the past few weeks and is also breaking through the $18 support level, which is a bearish sign.

Options traders are betting that the slide will abate, however, and are selling the August $15 put 1,000 times today. Open interest on the strike is only 6 contracts, which signals new, bullish activity on that strike.

Put volume is running at 4.39x the daily average.

AAR CORP. is a diversified provider of products and services to the worldwide aviation and defense industries.