Puts Sold on Developers Diversified Realty (DDR)

Shares of Developers Diversified Realty DDR are lower on the session by 0.10%, currently trading at $10.02. The stock has been moving largely lower over the past four months and is currently in a technical downtrend. Options traders are selling puts on the name today, betting that the stock may have bottomed. The August $10.00 put was sold 1,000 times earlier in the session; volume has since risen to 1,566 contracts. Open interest on the strike is 1,272 contracts; this may be a closing transaction. Put volume is currently running at 5x the daily average. Developers Diversified Realty Corporation is a self-administered and self-managed real estate investment trust. The company is in the business of owning, managing and developing a portfolio of shopping centers and, to a lesser extent, business centers.