On Tuesday we had a group do a bearish put spread - 6200 Feb puts $35/$30. Today we had probably the same group do the same trade only with the March puts - 2700 March puts $35/$30. Interesting that it is almost 10,000 puts or 1 million underlying shares. Leads credence that it is the same group.
The market makers have to cover their short put positions by shorting the stock and that is the reason in my estimation why the stock is down on a low volume day.
If I am right I figure that the group has done its full trade. Tomorrow without their opening an additional put spread we should have some decent upside or at worst flat. I think we can see $38- $39 by the end of the week.