Puts Purchased on Williams Sonoma (WSM)

Shares of Williams Sonoma Inc. WSM are lower on the session by 1.61%, currently trading $29.40. The stock has been a relative outperformer over the past three months and is still trading above the 50-day moving average. Protection is being bought on the name today though, with the August $30 put purchased over 2,800 times today on the offer; open interest on the strike is only 585 contracts, which signals new, bearish positioning. Put volume is now running at 2.13x the daily average with 85% of all puts traded being purchases on the offer. Williams-Sonoma, Inc. is a specialty retailer of products for the home. The retail segment of the Company's business sells its products through its five retail store concepts (Williams-Sonoma, Pottery Barn, Pottery Barn Kids, West Elm and Williams-Sonoma Home).