I don't believe that to be the case, but you certainly may be right. Another 39 contracts traded at 13:50 p.m. at .45 which was either at the bid or between the bid and ask, I believe. In any event, it looks like we will have to fill the gap here before this ship has any chance of turning around.
Noticed that also. I am assuming that these puts have been sold to generate income, which would not be a bearish signal. If the stock closes above $17 on December 21, the puts expire worthless and the writer or seller pockets the 40 or 45 cent premium they received. If the stock closes below $17, the shares are assigned to the put writer who then has a basis per share of either $16.55 or $16.60. Generally puts are written only by those who are bullish on the fundamentals and believe that the price will either stabilize or rise from these levels.
I continue to be surprised by the weakness in ARUN shares. From a technical perspective, the chart and EMAs look like a train wreck. A fill of the earnings gap up down to $17.20 appears to be almost inevitable. On the other hand, fundamentals have never been stronger, and both UBNT and RKUS are up today after being down earlier. Just a little bit of demand could send these shares soaring. I am not sure just how long the shorts can continue to manipulate ARUN's stock price lower.