Puts Sold in Staples Inc.

Shares of Staples Inc. SPLS are higher on the session by 1.49% at $21.86, significantly outperforming the overall market. This comes after the company reported better than expected earnings this morning. The stock is still trading below the 50-day and 200-day moving averages though, which is a bearish sign. One trader is selling out of their near-term put position today with the May $22.00 put sold on the bid today nearly 7,000 times. Open interest on the strike is 6,751 contracts. Staples, Inc. is an office products company. The Company, along with its subsidiaries, offers a range of office products, including supplies, technology, furniture and business services.