Shares of Staples, Inc. (NASDAQ: SPLS) are lower on the session by 0.99%, currently trading at $20.02. The stock has been moving largely lower over the past three months and is currently trading below the 50-day and 200-day moving averages.

Options traders are buying puts on the name today. A short while ago the September 2011 $21.00 put was purchased 1,350 times, on the offer, on open interest of 1,403 contracts.

Overall put volume is now running at 4.15x the daily average with 87% of all puts traded being purchases on the offer.

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.