Puts Purchased on Family Dollar Stores

Shares of Family Dollar Stores FDO are lower on the session by 3.33%, currently trading at $49.61. The stock has been moving largely lower over the past three months and is currently trading below the 50-day moving average. Options traders are buying puts on the name today. A short while ago the September 2011 $48.00 put traded 2,500 times on open interest of 0 contracts. Overall put volume is now running at 17.34x the daily average with 96% of all puts traded being purchases on the offer. Family Dollar Stores, Inc. operates a chain of more than 6,800 general merchandise retail discount stores in 44 states, providing primarily consumers with a selection of priced merchandise in neighborhood stores.