Puts Purchased on Sysco Corporation (SYY)

Shares of Sysco Corporation SYY are lower on the session by 0.02%, currently trading at $29.96. The stock has been moving largely higher over the past five months and is currently trading above the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short while ago the February $29.00 put was purchased 5,000 times, on the offer, on open interest of only 1,301 contracts. This signals new positioning on the name. Overall put volume is now running at 6.84x the daily average with 95% of all puts traded being purchases on the offer. Sysco Corporation, along with its subsidiaries and divisions, is a North American distributor of food and related products primarily to the foodservice or food-away-from-home industry. The company provides products and related services to approximately 400,000 customers, including restaurants, healthcare and educational facilities, lodging establishments and other foodservice customers.