Puts Purchased on Americredit Corp (ACF)

Shares of Americredit Corp. ACF are higher on the session by 0.66%, currently trading at $19.86. The stock has been cascading lower over the past three months and is now nearing the 200-day moving average. Options traders are picking up some protection on ACF today, betting that the slide may not be over. The July $20 put was purchased 1,800 times, on the offer, earlier in the session. Open interest on the strike is 516 contracts, signaling new, bearish positioning. Put volume is now running at 6.33x the daily average. AmeriCredit Corp. is an auto finance company operating in the automobile finance business. The Company purchases auto finance contracts for new and used vehicles purchased by consumers from franchised and select independent automobile dealerships in its dealership network.