300,000 traded today
previous open interest was 84K
That's a bit odd to point out the obvious.
Ben has taken note and will roast them. @ 10 am.
The puts were bought for May expiry and SPY can easily fall to 163 after such a run. If it wasn't for Tepper, market would have been down today.
Probably insurance. #$%$ buying at the top....some times you have to. Insurance makes sense.