Market Overview

Puts Favored in BJs Restaurants

BJs Restaurants Inc. (NASDAQ: BJRI), which owns and operates 93 restaurants in 13 states, is seeing put activity grow in the name today even as the stock moves higher.

Options action is heavy on the July $25 put line, where 1,970 contracts have traded on open interest of 1,388 contracts. The put/call ratio is now running at 14.7x the norm.

BJs Restaurants Inc., which is currently higher by 1.22% to $24.05, was upgraded to “Buy” by Sterne Agee today as well.

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