Downside Purchased on Joseph A. Bank (JOSB)

Shares of Joseph A. Bank JOSB are lower on the session by 2.06%, currently trading $61.66. The stock has been on a very nice run over the past five months, but has had trouble around the $65 handle. Options traders are buying puts on the name today; the June $60 put was just purchased 1,800 times on the offer for $1.50. Open interest on the strike is 474 contracts, which signals that today’s action is opening, bear positioning. Put volume is running at 3.13x the daily average. Jos. A. Bank Clothiers, Inc. is a designer, manufacturer, retailer and direct marketer (through stores, catalog and Internet) of men's tailored and casual clothing and accessories.