Protection Purchased on Family Dollar (FDO)

Shares of Family Dollar Stores Inc. FDO are higher on the session by 1.18%, currently trading at $38.61. The stock has been running largely higher over the past nine months, vastly outperforming the overall market. Options traders are picking up some protection on the name today, though. The July $35.00 strike put was purchased 1,100 times, on the offer; open interest on the strike is only 626 contracts, signaling new, bearish positioning. Put volume is now running at 2.25x the daily average. Family Dollar Stores, Inc. operates a chain of more than 6,600 general merchandise retail discount stores in 44 states, providing consumers with a selection of merchandise in neighborhood stores. The company's merchandise assortment includes consumables, home products, apparel and accessories, and seasonal and electronics.