NEW YORK -- The bears were shopping at Aeropostale (ARO) on Tuesday. 

OptionMonster's Depth Charge system detected the purchase of about 3,600 March 3 puts for 50 cents. These are new positions, as there was no previous open interest in the strike. 

These puts lock in the price where investors can sell shares in the retailer, so they will make money if the stock falls. Investors can use them as hedge, but Tuesday's trades were probably outright bearish bets. 

Aeropostale fell 9.09% to $2.70. It jolted higher on a strong quarterly report two weeks ago, only to stall around the same $3 area where it consolidated in October and November. It's been trending steadily lower since crumbling through support at $12.80 in the summer of 2013. 

Overall option volume was 10 times greater than average in the session, with puts accounting for a bearish 58% of the total.

-- Written by David Russell of 

OptionMonster

Russell has no positions in ARO.