Puts Purchased on Staples Inc. (SPLS)

Shares of Staples Inc. SPLS are higher on the session by 2.72%, currently trading at $19.62. The stock has been moving largely lower over the past six months and is trading below the 50-day moving average. Options traders are buying protection on the name today, though this appears to be hedge buying on long shares. The August $19.00 put was purchased 1,400 times, on the offer, on open interest of just 966 contracts. This signals new positioning on the name. Put volume is now running at 2.52x the daily average. Staples, Inc. is an office products company. The company, along with its subsidiaries, offers a range of office products, including supplies, technology, furniture and business services. It serves customers of all sizes in 25 countries throughout North and South America, Europe, Asia and Australia.