Huge Put Sale in Dicks Sporting Goods (DKS)

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Shares of Dicks Sporting Goods
DKS
are lower on the session by 2.21%, currently trading at $25.21. The stock has been trading largely lower over the past three months and is now sitting right on the 200-day moving average. One options trader is betting that the level will hold. A short while ago, a huge put sale was detected on the July $25 put strike, where 10,000 contracts were sold, on the bid, for $0.10. This is clearly a trader who is willing to get long the shares regardless, looking to use short-term options to enter into the position. The options expire this week. Put volume is now running at 104x the daily average. Dick's Sporting Goods, Inc. is a sporting goods retailer offering a range of brand name sporting goods equipment, apparel, and footwear in a specialty store environment. As of January 30, 2010, the company operated 419 Dick's Sporting Goods stores in 40 states and 91 Golf Galaxy stores in 31 states. Learn how to find the best
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Posted In: Long IdeasTechnicalsOptionsTrading Ideas
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