Not necessarily insiders. Even I thought of buying up puts before the close but was too busy. Pick any equity that trades in the 5-10 million per day range and you will see short term straddles around earnings have a higher volume.
Also check the volume premarket, I am showing 40k so far. Not a significant amount. ... yet
"optionMONSTER systems detected the purchase of 20,000 May 32 puts for $0.66, above the listed bid price at the time. This is clearly fresh buying, as the open interest in the strike was fewer than 7,000 contracts before the session began.
Less than a minute later, the largest block of AGNC stock traded (by a factor of 10) as 920,000 shares were bought for $32.10. This combination of puts and stock creates an overall position that is a delta-neutral and long volatility, which means that the trader is looking for a big move up or down in the stock and/or for the actual volatility to be higher than that implied by the puts. "
"Given the magnitude of the Federal Reserve's involvement in the mortgage market and the shifting sentiment on the strength of the economy, the volatility we experienced during the quarter is not surprising," said Malon Wilkus, Chair and Chief Executive Officer. "However, despite the recent volatility, we believe our portfolio is appropriately positioned to create excellent risk adjusted returns for our shareholders over the long-term."
I have been a long 5 1/2 year investor and have seen this happen more times in the past than,you know what I'm trying to say "DON'T PANIC" Less