Puts Purchased on 99 Cents Only Stores

Shares of 99 Cents Only Stores NDN are lower on the session by 0.40%, currently trading at $20.06. The stock has been moving largely higher over the past six months and is currently trading above the 200-day moving average. Options traders are buying puts on the name today. A short while ago the September $17.50 put was purchased 790 times, on the offer, on open interest of 322 contracts. Overall put volume is now running at 7.47x the daily average with 86% of all puts traded being purchases on the offer. 99 Cents Only Stores is a retailer of primarily consumable general merchandise. As of March 27, 2010, the company operated 275 retail stores with 206 in California, 32 in Texas, 25 in Arizona, and 12 in Nevada. The company is also a wholesale distributor of various consumer products.