Puts Purchased on Staples, Inc. (SPLS)

Shares of Staples, Inc. SPLS are lower on the session by 0.30%, currently trading at $23.34. The stock has been moving largely higher over the past six months and is currently trading above the 50-day and 200-day moving averages. Options traders are buying puts on the name today. Though action has been primarily in small lots, overall put volume is now running at 4.98x the daily average with 87% of all puts traded being purchases on the offer. Traders are buying the $23.00, $22.50, and $22.00 puts in multiple months. Staples, Inc. is an office products company. The company, along with its subsidiaries, offers a range of office products, including supplies, technology, furniture and business services. It serves customers of all sizes in 25 countries throughout North and South America, Europe, Asia and Australia.