Puts Rolled on Steelcase (SCS)

Shares of Steelcase Inc. SCS are higher on the session by 1.29%, currently trading at $7.06. The stock has been trading largely sideways for the past six months, though it is currently testing the 200-day moving average. One options trader rolled a long put position on the stock today. The July $7.50 put was sold 2,500 times, on the bid, for $0.40 and the August $7.50 put was purchased 2,500 times, on the offer, for $0.90. The respective open interest on each line confirms an options roll. Put volume is now running at 20x the daily average. Steelcase Inc. is engaged in furnishing the work experience in office environments. It designs for a variety of customer needs through three core brands: Steelcase, Turnstone and Coalesse.