Options Brief: Zale Corporation (ZLC)

Shares of Zale Corporation ZLC are lower on the session by 10.84%, trading at $4.77. Overall put volume is now running at 2.63x the daily average, with 65% of all call puts traded being purchases on the offer. 2,160 contracts have traded on the session so far. Zale Corporation, through its wholly owned subsidiaries, is a specialty retailer of fine jewelry. As of July 31, 2010, it operated 1,218 specialty retail jewelry stores and 672 kiosks located mainly in shopping malls throughout the United States, Canada and Puerto Rico.