Puts Sold on Pitney Bowes Inc. (PBI)

Shares of Pitney Bowes Inc. PBI are lower on the session by 0.44%, currently trading at $24.61. The stock has been moving largely higher over the past two months and is nearing resistance at $25.00. Options traders are selling puts on the name today. The August $24.00 put was sold 4,000 times, on or near the bid, on open interest of 160 contracts. This signals new, bullish positioning on the name. Call volume is now running at 9x the daily average. Pitney Bowes Inc. is a provider of mail processing equipment and integrated mail solutions. The company offers a range of equipment, supplies, software and services for end-to-end mailstream solutions, which enable its customers to optimize the flow of physical and electronic mail, documents and packages across their operations.