Bears Targeting Discover Financial Services (DFS)

Shares of Discover Financial Services DFS are lower on the session by 0.66%, currently trading at $18.91. The stock has been moving largely higher over the past six months and is currently trading above the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short while ago the December $19.00 put was purchased 2,500 times, on the offer, for $0.60 on open interest of only 258 contracts. This signals new positioning on the name. Overall put volume is now running at 9.20x the daily average with 100% of all puts traded being purchases on the offer. Discover Financial Services is a credit card issuer in the United States and an electronic payment services company. The company offers credit cards, personal and student loans, and deposit products. The company is bank holding and financial holding company.