Puts Bought on Citrix Systems (CTXS)

Shares of Citrix Systems Inc. CTXS are lower on the session by 2.70%, currently trading $41.46. The stock has been moving lower for the past seven weeks and is now flirting with the 200-day moving average. Options traders are bidding up puts in the name today as well. The September $40 put was purchased on the offer 1,500 times earlier in the session; open interest on the strike is 2,882 contracts. Put volume is now running at 2.03x the daily average. Citrix Systems, Inc. designs, develops and markets technology solutions that enable information technology (IT) services to be delivered through its virtual computing infrastructure on demand, independent of location, device or network.