Protection Purchased on Allstate Corp. (ALL)

Shares of Allstate Corp. ALL are lower on the session by 0.49%, currently trading at $30.40. The stock has been struggling to regain the 200-day moving average as of late; this comes after a hard sell off in May. Options traders are picking up protection on the name. The October $28 put was purchased 3,200 times today. Open interest on the strike is only 1,067 contracts, which signals new, bearish positioning. Put volume is now running at 2.2x the daily average. The Allstate Corporation is a holding company of Allstate Insurance Company. The Company's business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and their affiliates.