Shares of The Great Atlantic & Pacific Tea Company (NYSE:

) are lower on the session by 54.77%, trading at $1.28. Overall put volume is now running at 2.56x the daily average, with 63% of all puts traded being purchases on the offer. 6,351 contracts have traded on the session so far. The Great Atlantic & Pacific Tea Company, Inc. is engaged in the retail food business. The company operated 429 stores averaging approximately 42,200 square feet per store as of February 27, 2010.