Puts Purchased on Select Comfort Corporation (SCSS)

Shares of Select Comfort Corporation SCSS are higher on the session by 4.21%, currently trading at $12.87. 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 June 2011 $7.50 put was purchased 5,100 times, on the offer, on open interest of 6,140 contracts. Overall put volume is now running at 363.59x the daily average with 99% of all puts traded being purchases on the offer. Select Comfort Corporation is engaged primarily in developing, manufacturing, marketing and distributing adjustable-firmness beds and other sleep-related accessory products. The air-chamber technology of the company's Sleep Number bed allows adjustable firmness on each side of the mattress.