Never seen this level of put activity in the stock
As long as I have been watching this stock there's usually a much higher number of calls purchased. Frequently 3:1.
I have never seen such disparity as today 18K calls vs 59K puts. Enormous number of April puts being traded.
10,000 Apr. $15
7,000 + 4,000+ 3,400 Apr. $20
4,000 Apr. $18
Those are just some of the bulk transaction.
Since CLF went down when people were trading calls, may be it will go up now...
Everytime I have seen high volume puts sold they were fake trades where two brokers sell the contracts back and forth to create an illusion the stock will crater. We'll see if the open interest increase tomorrow, otherwise they were fake trades by short hedge funds for the purpose of scaring investors to sell while they cover.
It is all about Goldman Sucks. They wanted it to bankrupt and working hard towards that. Those all puts are theirs to make double jack: From a heavy short and put options. At the end, we are the bag holders.