Puts Sold on Urban Outfitters (URBN)

Shares of Urban Outfitters Inc. URBN are lower on the session by 2.19%, currently trading at $31.68. The stock has been moving largely lower over the past three months, off from recent highs near $40.75. Options traders are betting that the slide may be over and are selling out of their long put positions. The August $31 put was sold 1,500 times on open interest of 1,560 contracts and the December $31 put was sold 2,500 times on open interest of 2,517 contracts. Put volume is now running at 3.21x 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.