Puts Bought on Nutrisystem Inc. (NTRI)

Shares of Nutrisystem Inc.

are lower on the session by 0.75%, currently trading at $23.81. The stock has been rallying over the past four months, dramatically outperforming the overall market. Options traders are betting that the run may be over. Though action has been primarily in small lots, put volume is now running at 2.5x the daily average with 95% of all puts traded being purchases on the offer. Traders are focusing in on the $19 and $20 strikes in multiple months. Nutrisystem, Inc. is a provider of a weight management system based on a low-calorie, portion-controlled, prepared meal program. The customers purchase monthly food packages containing a 28-day supply of breakfasts, lunches, dinners and desserts, which they supplement with fresh dairy, fruit, salad, vegetables and low-glycemic carbohydrate items.