If Most Are Looking For A CRL, Why Are Puts Expensive?
I think the high short interest is more telling than options.
The short interest has been rising. Think about this, the shorts will stand to make $2 ($4 -> $2) if they are right but lose tens ($4 -> $15) if they are wrong, but yet short interest is rising. The odds must be in heavy favor of CRL to make that bet. Of course, shorts probably have bought out of the money calls to protect themselves, but still.