The PUT options on STZ were trading twice their value before the anouncement. Then the stock drops 8 points and the put options for 25 and 27 went down. That does not happen unless people were expecting severe volatility, but disappointed by a mere 8 pt drop.
Puts like the 27 went from 20-25 cents the day prior to $2 the day of and fell to 5 cents the day after. And now trade around 5-10 cent.
The 30 strike traded around 30 cents then went to $4 and now trades around 30 cents.
But it is obvious a big move was expected by someone.
I have seen put options go up 10 fold a few days before a company declares bankruptcy.
It #$%$ me off, the sec doesn't just watch for that stuff. It is so obvious that it is insider trading.