Puts Purchased on iStar Financial (SFI)

Shares of iStar Financial Inc. SFI are lower on the session by 5.36%, currently trading $5.38. The stock has been a relative outperformer as of late, but is now breeching the 50-day moving average to the downside. Puts are also being bought on the name today. The July $5.00 put was just purchased 1,500 times on the offer for $0.65. Open interest on the line is 6,794 contracts. Put volume is running at 2.44x the daily average with 94% of all puts traded being purchases on the offer. Benzinga highlighted put buying on the name yesterday; the stock is off 5.20% since that call. iStar Financial Inc. is a finance company focused on the commercial real estate industry. The Company primarily provides financing to high-end private and corporate owners of real estate, including senior and mezzanine real estate debt, senior and mezzanine corporate capital, as well as corporate net lease financing and equity.