Puts Purchased on AAR Corp. (AIR)
July 14, 2010 11:18 AM
Shares of AAR Corp. (NYSE: AIR) are lower on the session by 3.13%, currently trading at $17.35. The stock has been trading largely lower over the past three months and is trading below both the 50-day and 200-day moving averages.
Options traders are buying puts on the name today, betting that the stock could slide further. The November $12.50 put was purchased 1,750 times, on the offer; there was no open interest on the strike.
Put volume is now running at 11.73x the daily average with 99% of all puts traded being purchases on the offer.
AAR Corp. is a diversified provider of products and services to the worldwide aviation and defense industries. The company conducts its business activities through six principal operating subsidiaries: AAR Parts Trading, Inc., AAR Aircraft & Engine Sales & Leasing, Inc., AAR Services, Inc., AAR Aircraft Services, Inc., AAR Manufacturing, Inc. and AAR International, Inc.
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