Puts Sold on Sketchers USA

Shares of Sketchers USA Inc. SKX are trading lower on the session by 4.72%, currently at $34.13. The stock ahs enjoyed an amazing run over the past year, but has recently sold off, below the 50-day moving average. Traders are selling out of the long puts today, though. The July $30 puts were sold 1,092 times on open interest of 1,534 contracts, which indicates tat a position has been closed. This would be bullish for the stock. Skechers U.S.A., Inc. design and market Skechers-branded contemporary footwear for men, women and children under several lines.