Put Volume Grows in Sallie Mae (SLM)

Shares of SLM Corp SLM are higher on the session by 2.02%, currently trading $10.63. The stock has been selling off along with the overall market and are now trading below the 50-day and 200-day moving averages. It looks like the $10 level is support, though. Put volume is growing in the name today, currently running at 2.22x the daily average. The largest trade was the July $10 put, which traded 1,000 times on open interest of 3,744 contracts. There was also a smattering of puts traded in May and June. Only 53% of all puts traded have been purchased on the offer, which gives mixed signals for today’s trading. SLM Corporation, known as Sallie Mae, is engaged in the business of originating, servicing and collecting student loans and/or their parents to finance the cost of their education.