Shares of CarMax KMX are lower on the session by 1.15%, currently trading at $32.76. The stock has been moving largely higher over the past two months and is currently trading above the 50-day moving average.
Options traders are buying puts on the name today. A short while ago the August 2011 $31.00 put traded 5,400 times on open interest of 259 contracts.
Overall put volume is now running at 4.63x the daily average with 100% of all puts traded being purchases on the offer.
CarMax, Inc. is a holding company and its operations are conducted through its subsidiaries. CarMax is a retailer of used cars, which retailed 396,181 used vehicles, during the fiscal year ended February 28, 2011.
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