Puts Sold on American Eagle (AEO)

Shares of American Eagle Outfitters AEO are lower on the session by 0.23%, currently trading at $12.84. The stock has been moving primarily lower over the past three months, but appears to have found support at $12.00. Options traders are selling puts on the name today. The November $12.50 put was sold 3,000 times, on the bid, for $1.10 earlier in the session; open interest on that strike is 1,868 contracts. This signals new, bullish positioning on the name. This trader is suggesting that the stock remains above $11.40 for the next few months. Put volume is currently running at 2.4x the daily average. American Eagle Outfitters, Inc. offers on-trend clothing, accessories and personal care products. It operates under the American Eagle, aerie by American Eagle, 77kids by American Eagle and MARTIN+OSA brands.