Puts Purchased on Jack in the Box (JACK)
Shares of Jack in the Box (NASDAQ: JACK) are lower on the session by 0.69%, currently trading at $21.62. The stock has been moving largely lower over the past few weeks and is currently trading below the 50-day and 200-day moving averages.
Options traders are buying puts on the name today. A short while ago the June 2011 $17.50 put was purchased 1,000 times, on the offer, for $0.45 on open interest of only 500 contracts. This signals new positioning on the name.
Overall put volume is now running at 5.71x the daily average with 89% of all puts traded being purchases on the offer.
Jack in the Box Inc. is engaged in restaurant operations. The company operates and franchises more than 2,700 Jack in the Box quick-service restaurants and Qdoba Mexican Grill fast-casual restaurants.
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