Downside Purchased on Accenture (ACN)

Shares of Accenture PLC ACN are lower on the session by 0.60%, currently trading $36.49. The stock has been largely unchanged over the past six months, but started to sell off notably in May. The stock is now below both the 50-day and 200-day moving averages. Puts are being purchased today; the July $35 strike was bought 2,500 times on open interest of just 197 contracts. This suggests fresh bearish positioning. Put volume is now running at 3.06x the daily average with 99% of all puts traded being purchases on the offer. Accenture plc is a management consulting, technology services and outsourcing company. The Company helps clients improve operational performance, deliver their products and services, increase revenues in markets and identify and enter new markets.