Protection Purchased on Urban Outfitters (URBN)

Shares of Urban Outfitters Inc. URBN are lower on the session by 1.66%, currently trading at $33.86. The stock has been trading largely sideways for the past four months, but is now testing the 200-day moving average. Options traders were buying some puts this morning, bracing for a sell off. The July $35 put was purchased 1,000 times on open interest of 1,934 contracts and the August $35.00 put was purchased 1,800 times on open interest of 103 contracts. Put volume is now running at 4.21x the daily average. Urban Outfitters, Inc. is a lifestyle specialty retail company that operates under the Urban Outfitters, Anthropologie, Free People and Terrain brands. The company also operates a wholesale segment under the Free People and Leifsdottir brands. Its retail stores offer differentiated collections of fashion apparel, accessories and home goods.