Puts Sold on Abercrombie & Fitch

Shares of Abercrombie & Fitch Co. ANF are higher on the session by 2.61%, currently trading $35.05. The stock has been cascading lower for the better part of two months now and is well below the 50-day and 200-day moving averages. I am seeing traders sell out of their long put positions today, betting that the recent slide is over though. The June $32 put was sold 2,000 times on open interest of 2,011 contracts and the June $30 put was sold 1,000 times on open interest of 1,378 contracts. Put volume is running at 3.20x the daily averages with only 2% of all puts traded being purchases on the offer. Abercrombie & Fitch Co. through its subsidiaries, is a specialty retailer that operates stores and direct-to-consumer operations selling casual sportswear apparel.