URS has been pulling back, and traders apparently fear that it will continue to slide.
optionMONSTER's Depth Charge tracking program detected the purchase of some 3,000 November 50 puts in the construction company, most of which priced for $1.40. Volume was more than 95 times open interest at the strike, indicating that new money was put to work on the long side.
URS is up 0.54 percent to $51.99 in morning trading. It's up 33 percent so far this year but has retreated 6 percent in the last two weeks. While the company hasn't yet announced the date for the next earnings report, last year's calendar suggests it will be issued early next month. Those November contracts would remain in effect through that potentially volatile event.
Total option volume is 7 times greater than average in the company, with puts outnumbering calls by 69 to 1.
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