Puts Purchased on hhgregg Inc. (HGG)

Shares of hhgregg Inc. HGG are lower on the session by 6.55%, currently trading at $23.96. The stock has been trading largely lower over the past two months, encountering significant resistance around the $30.00 level. Options traders are buying puts today. The July $25.00 put was purchased nearly 1,900 times, on the offer; open interest on the strike is only 906 contracts, suggesting new, bearish positioning. Put volume is now running at 13x the daily average. hhgregg, Inc. operates as a specialty retailer of consumer electronics, home appliances, and related services. The company offers video products, such as flat panel televisions, blu-rays, and DVD players; appliances, including washers and dryers, refrigerators, cooking ranges, dishwashers, freezers, and air conditioners; and CD players, digital camcorders, digital cameras, gaming bundles, home theater receivers, mattresses, MP3 players, notebook computers, personal navigation, speaker systems, and telephones.