Protection Purchased on Jones Apparel Group (JNY)

Shares of Jones Apparel Group Inc.

are lower on the session by 4.47%, currently trading at $17.31. The stock has been drifting lower over the past two months and is now in a technical downtrend. Options traders are buying puts on the name today. The July $20 put was purchased 1,099 times, on the offer; open interest on that strike is 1,004 contracts. This signals new, bearish positioning on the name. Put volume is now running at 3.22x the daily average. Jones Apparel Group, Inc. is a designer, marketer and wholesaler of branded apparel, footwear and accessories. The company markets its products to the consumers, through a chain of specialty retail and stores and through its e-commerce websites.