Large action on Nov $9 calls. There has been continued volume since article was written.
I see this as a positive. Believe an institution sees a bottom in stock price, took a large position (500,000 shares) and is selling short term calls to lower their entry price (about $8.38). Worst case for them if price goes up before expiration, they make 60 cents per share on the stock.
I did not see the put volume. I'm not that experienced in option stratagies. Any idea's of their intentions? The best thing I could come up with is selling both calls and puts. They would not lose until above $9.58, would make $300,000 if it stays between 8 and 9 and buy the stock for $7.42 if it fell below 8.