Puts Purchased on Sysco Corporation (SYY)

Shares of Sysco Corporation SYY are lower on the session by 1.20%, currently trading at $28.32. The stock has been moving largely lower over the past four months and is currently consolidating between the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short while ago the May $29.00 put was purchased 5,300 times, on the offer, on open interest of 4,329 contracts. Overall put volume is now running at 10.31x the daily average with 89% 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.