Protection Purchased on Patterson Companies (PDCO)

Shares of Patterson Companies Inc. PDCO are lower on the session by 2.66%, currently trading at $28.96. The stock has been trading largely lower over the past two months; it is now nearing a critical support level. Options traders are favoring the put side today. The July $30 put was purchased 1,800 times, on the offer, a short while ago; open interest on the strike is 3,405 contracts. Put volume is now running at 8.9x the daily average with 82% of all puts traded being purchases on the offer. Patterson Companies, Inc. operates as a distributor serving dental, companion-pet veterinarian, and rehabilitation supply markets in the United States and Canada.