Puts Purchased on Staples, Inc. (SPLS)

Shares of Staples, Inc. SPLS are higher on the session by 0.20%, currently trading at $20.29. 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 May 2011 $20.00 put was purchased 2,200 times, on the offer, on open interest of only 1,481 contracts. This signals new positioning on the name. Overall put volume is now running at 3.40x the daily average with 76% of all puts traded being purchases on the offer. Staples, Inc., is an office products company. As of January 29, 2011, Staples served customers of all sizes in 26 countries throughout North America, Europe, Australia, South America, and Asia.