Protection Purchased on Family Dollar (FDO)

Shares of Family Dollar Stores Inc. FDO are lower on the session by 1.23%, currently trading at $38.56. The stock has been a relative outperformer over the past six months, though the stock is now off its highs and looks to be entering a technical downtrend. Options traders are betting that FDO may indeed fall from here. The July $37.00 put was purchased 1,050 times today; open interest on the strike is 546 contracts, signaling new, bearish positioning. Put volume is now running at 2.5x the daily average. Family Dollar Stores, Inc. operates a chain of more than 6,600 general merchandise retail discount stores in 44 states, providing consumers with a selection of merchandise in neighborhood stores. The Company's merchandise assortment includes consumables, home products, apparel and accessories, and seasonal and electronics.