Puts Purchased on Citi Trends (CTRN)

Shares of Citi Trends Inc. CTRN are higher on the session by 0.62%, currently trading at $27.81. The stock has been moving largely lower over the past five months, with that slide accelerating as of late. Options traders are buying puts on the name today. The August $25.00 put was purchased 2,000 times, on the offer, for $0.50 a short while ago; open interest on the strike is only 73 contracts. This signals new positioning on the name. Put volume is now running at 80x the daily average. Citi Trends, Inc. is a retailer of urban fashion apparel and accessories for the entire family. It offers branded apparel from nationally recognized brands, as well as private label apparel and a limited assortment of home decor items.