Puts Purchased on 99 Cents Only Stores (NDN)

Shares of 99 Cents Only Stores NDN are lower on the session by 0.25%, currently trading at $16.15. The stock has been moving largely sideways over the past four months, but recently popped above the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short while ago the March 2011 $15.00 put was purchased 1,000 times, on the offer, on open interest of 2,317 contracts. Overall put volume is now running at 7.77x the daily average with 82% of all puts traded being purchases on the offer. 99 Cents Only Stores is a retailer of primarily consumable general merchandise. As of March 27, 2010, the company operated 275 retail stores with 206 in California, 32 in Texas, 25 in Arizona, and 12 in Nevada.