Puts Sold on Navigant Consulting (NCI)

Shares of Navigant Consulting Inc. NCI are lower on the session by 1.62%, currently trading $11.51. The stock has been cascading lower over the past five months and is now in danger of breaking the $11.50 support level, which it hasn’t breeched since March of 2003. Long put holders are placing a low probability on that event, though, and are selling out of their long puts. The October $12.50 strike puts were sold 2,200 times today (in several smaller lots); open interest on the strike is 3,184 contracts, which suggests that an open position was closed out. Put volume is now running at 8.62x the daily average. Navigant Consulting, Inc. is a specialty consulting firm that combines industry knowledge with technical expertise to enable companies to create and protect value in the complex and critical business risks and opportunities.