Gannett Put Volume Up 6x As Traders Hedge Position (GCI)

Shares of Gannett (NYSE:GCI) are trading 3.7% lower today, recently trading at $12.99. The stock has been drifting lower over the past ten trading days but is currently trading in a technical uptrend.The put volume today was 8,535 contracts, which is 6x the average daily volume of 1,515. Usually high put volume is an indicator that many investors are looking for lower prices in the near future.

Gannett Co., Inc. is an international news and information company that publishes various daily newspapers in the United States and the United Kingdom, including USA TODAY and USA WEEKEND, a newspaper magazine. The Company also operates television stations in major United States markets as well as operates websites offering news, information and advertising.