Protection Purchased on Ameriprise Financial (AMP)

Shares of Ameriprise Financial Inc. AMP ended the session higher by 0.80%, trading at $26.47. The stock has been drifting lower and lower over the past three months, off from recent highs near $50.00. Options traders were bracing for more downside today. The July $35.00 put was purchased 1,097 times, near the offer, on open interest of just 708 contracts. This signals new, bearish positioning on the strike. Put volume was running at 5.4x the daily average today. Ameriprise Financial, Inc. is a holding company. The company provides financial planning, products and services that are designed to be utilized as solutions for its clients' cash and liquidity, asset accumulation, income, protection, and estate and wealth transfer needs.