Puts Purchased on J.Crew Group (JCG)
February 17, 2011 12:25 PM
Shares of J.Crew Group (NYSE: JCG) are lower on the session by 0.02%, currently trading at $43.60. The stock has been moving largely sideways over the past three months and is currently trading above the 50-day and 200-day moving averages.
Options traders are buying puts on the name today. A short while ago the March 2011 $42.00 put was purchased 1,000 times, on the offer, on open interest of only 124 contracts. This signals new positioning on the name.
Overall put volume is now running at 3.55x the daily average with 87% of all puts traded being purchases on the offer.
J.Crew Group, Inc. is an integrated multi-brand, multi-channel, specialty retailer. The company offers complete assortments of women's, men's and children's apparel and accessories, including wedding, swimwear, loungewear, outerwear, shoes, bags, belts, hair accessories and jewelry.
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