Puts Purchased on AutoNation, Inc.

Shares of AutoNation, Inc. AN are higher on the session by 0.19%, currently trading at $36.49. The stock has been moving largely higher over the past six months and is currently trading above the 50-day moving average. Options traders are buying puts on the name today. A short while ago the August 2011 $36.00 put was purchased 1,800 times, on the offer, on open interest of 17 contracts. Overall put volume is now running at 7.37x the daily average with 94% of all puts traded being purchases on the offer. AutoNation, Inc., through its subsidiaries, is an automotive retailer in the United States. As of December 31, 2010, the company owned and operated 242 new vehicle franchises from 206 stores located in the United States, in metropolitan markets in the Sunbelt region. Its stores sell 31 different brands of new vehicles.