Puts Sold on PSS World Medical (PSSI)

Shares of PSS World Medical Inc. PSSI are lower on the session by 4.07%, currently trading at $18.85. The stock has been trending lower over the past three months, but is now nearing support at $18.50. Options traders are selling puts on the name today, betting that the stock may be at a short-term bottom. The August $20.00 put was sold 2,200 times, on and near the bid, earlier in the session; open interest on the strike is 4,821 contracts. Today’s action thus looks like a closing transaction. Put volume is now running at 6.55x the daily average. PSS World Medical, Inc. is a distributor of medical products and equipment, pharmaceutical products, healthcare information technology and billing services to alternate-site healthcare providers, including physician offices, long-term care and assisted living facilities, home healthcare and hospice providers.