Puts Purchased on Dick's Sporting Goods

Shares of Dick's Sporting Goods DKS are higher on the session by 3.33%, currently trading at $30.90. 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 August 2011 $30.00 put traded 1,000 times on open interest of 255 contracts. Overall put volume is now running at 2.30x the daily average with 98% of all puts traded being purchases on the offer. Dick's Sporting Goods, Inc. is a sporting goods retailer offering a range of brand name sporting goods equipment, apparel, and footwear in a specialty store environment.