Puts Purchased on Skechers U.S.A. (SKX)

Shares of Skechers U.S.A. SKX are higher on the session by 0.92%, currently trading at $19.74. The stock has been moving largely lower over the past six months and is currently trading below the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short while ago the February 2011 $19.00 put was purchased 2,300 times, on the offer, on open interest of only 593 contracts. This signals new positioning on the name. Overall put volume is now running at 2.51x the daily average with 87% of all puts traded being purchases on the offer. Skechers U.S.A., Inc. designs and markets Skechers-branded contemporary footwear for men, women and children under several lines. In addition to Skechers-branded lines, the company also offers several designer, fashion and street-focused footwear lines for men, women and children.