Puts Purchased on AutoNation (AN)

Shares of AutoNation Inc. AN are lower on the session by 0.65%, currently trading at $19.81. The stock has been moving largely higher over the past six months, though trading has been volatile. The stock is off from its recent high near $22.00. Options traders are buying protection on the stock today. The August $20.00 put was purchased 1,000 times, on the offer; open interest on the strike is 96 contracts. Put volume is now running at 5.10x the daily average with 84% of all calls traded being purchases on the offer. AutoNation, Inc., through its subsidiaries, operates as an automotive retailer in the United States. It offers various automotive products and services, including new vehicles, used vehicles, parts, automotive repair and maintenance services, and automotive finance and insurance products.