Protection Purchased on Aeropostale (ARO)

Shares of Aeropostale ARO are higher on the session by 1.59%, currently trading at $30.08. The stock has been trading largely sideways for the past five months and is currently trading above both the 50-day and 200-day moving averages. Options traders are buying protection on the name the day before they are to issue June same store sales. The July $31.00 put was purchased, on the offer, 1,800 times; open interest on the strike is 232 contracts, signaling new, bearish positioning. Put volume is now running at 3.08x the daily average. Aeropostale, Inc. is a mall-based specialty retailer of casual apparel and accessories. The company designs, markets and sells its own brand of merchandise principally targeting 14 to 17 year-old young women and young men. The company also sells Aropostale merchandise through its e-commerce website, www.aeropostale.com.