H&R Block Pushes to New Lows; Puts Purchased (HRB)

Shares of H& R Block Inc. HRB are lower on the session by 3.29%, currently trading at $12.93. The stock has been moving largely lower over the past six months, off from a recent high near $19.00. The stock is trading well below the 50-day moving average. Options traders are buying puts on the name, betting that it could continue to slide more than 18%. The January 2012 $7.50 put was purchased 5,000 times, on the offer, for $0.65 a short while ago; open interest on the strike is only 2 contracts. This signals fresh, bearish positioning on the strike. Put volume is now running at 3.12x the daily average. H&R Block, Inc. has subsidiaries that provide tax, banking, and business and consulting services. The company's Tax Services segment provides income tax return preparation, electronic filing and other services and products related to income tax return preparation to the general public primarily in the United States, and also in Canada and Australia. For more great research like this, as well as how to play it through options…please visit Benzinga’s Options & Volatility Edge and Benzinga’s Cash Generator.