Shares of The GEO Group Inc. GEO are trading lower on the session by 1.73%, currently trading $19.92. The stock has been a relative outperformer as of late, but is now struggling to hold the 200-day moving average.
Puts are being purchased on the name this morning. The June $20 put was just purchased 1,600 times on the offer; open interest on the strike is 169 contracts. GEO put volume is now running at 116x the daily average with 75% of all calls traded being purchases on the offer.
The GEO Group, Inc. is a provider of government-outsourced services specializing in the management of correctional, detention and mental health and residential treatment facilities in the United States, Canada, Australia, South Africa and the United Kingdom.
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