Bears Target Crocs (CROX)

Shares of Crocs Inc. CROX are trading flat on the session, currently at $10.51, but traders are buying puts in the name today. Put volume is now running at 4x the daily average with the September $10 put purchased over 1,000 times on open interest of 287 contracts. Small lots of puts have also been traded in the name, they have all been purchases on the offer. Crocs has been moving nicely higher over the past year, but the shares have had trouble around the $10 level; it appears that traders are betting the stock retraces from here.