Puts Purchased on Electronic Arts

Shares of Electronic Arts ERTS are trading lower on the session by 2.33%, currently at $15.90. The stock has been falling sharply as of late and shares are trading well below the 50-day and 200-day moving averages. I am seeing put buying in the name today with traders coming for the June $15 and $14 puts right at the opening bell. Each strike has traded over 1,000 times. Open interest on the $15 strike is 5,675 contracts; open interest on the $14 strike is 1,467 contracts. Electronic Arts Inc. develops, markets, publishes and distributes video game software and content that can be played by consumers on a variety of platforms.