Notable Put Options Activity in PetSmart

Shares of PetSmart PETM are higher on the session by 1.94%, currently trading at $58.43. The stock has been moving largely higher over the past three months and is currently trading above the 50-day moving average. Options traders are focusing on puts today. The strike seeing the heaviest action is the July 2012 $50.00 put, which has traded 1,500 times on open interest of 1,128 contracts. Put volume is outpacing call volume by 6 to 1. PetSmart, Inc. is a specialty provider of products, services and solutions for the lifetime needs of pets. The company offers product assortment with pet services, including grooming, training, boarding and day camp