Protection Sold on Tractor Supply (TSCO)

Shares of Tractor Supply Company TSCO are higher on the session by 0.67%, currently trading at $37.40. The stock has been moving largely higher over the past six months, rising off of a low near $29.00. The stock recently broke above the key resistance-come-support level of $36.00. One options trader is selling his or her put protection on the name today, betting that the stock does not move below $37.00 this week. The September $37.50 put was just sold 1,500 times, on the bid, for $0.50; given the open interest of 1,520 contracts, this is likely a closing transaction. Put volume is now running at 6.54x the daily average. Tractor Supply Company is an operator of retail farm and ranch stores in the United States. The company operates retail stores under the names Tractor Supply Company and Del's Farm Supply and operate a Website under the name TractorSupply.com. For more great research like this, as well as how to play it through options…please visit Benzinga's Options & Volatility Edge and Benzinga's Cash Generator.