Put Position Rolled in Steelcase (SCS)

Shares of Steelcase Inc. SCS are higher on the session by 1.43%, currently trading $7.11. The stock has been falling for the past six weeks, off from a recent high of $9.47. The stock is nearing the 200-day moving average. One options trader is rolling their long put position from June to July today. The June $7.50 strike was sold near the bid 2,500 times for $0.50 just as 2,500 of the July $7.50 puts was purchased on the offer for $1.00. The open interest data on each strike further emphasizes that a roll has taken place. Steelcase Inc. is engaged in furnishing the work experience in office environments. It designs for a variety of customer needs through three core brands: Steelcase, Turnstone and Coalesse.