Puts Purchased on Blue Nile (NILE)

Shares of Blue Nile Inc. NILE are lower on the session by 2.27%, currently trading at $50.30. The stock has been in a technical downtrend over the past six months; the stock is now trading at the technical sell point. Options traders are buying puts today; the August $50 strike was purchased nearly 2,000 times. There was no open interest on that strike. Put volume is now running at 33x the daily average with over 60% of all puts traded being purchases on the offer. Blue Nile, Inc. is an online retailer of diamonds and jewelry, with a particular focus on engagement diamonds and settings. The Company operates three Websites: www.bluenile.com, www.bluenile.ca and www.bluenile.co.uk. Blue Nile, Inc.'s Websites showcase diamonds and jewelry, including rings, wedding bands, earrings, necklaces, pendants, bracelets and watches.