Over the past year, Abercrombie & Fitch shares have been anything but hot. And it appears that options traders expect it to get worse.
On Wednesday, bearish put options were very active in the name, with about 2 times the average daily put volume being traded. The most popular trade was buying the March 31-strike puts for about $1.10 each, which represents a bet that Abercrombie shares will trade below $29.90 by March expiration. That would represent a 12 percent decline from Wednesday's close.