Today approximately 2,000 December puts ($17.50s and $16.00s) were purchased. Since the OI was almost nil prior to the purchases, it appears that the buyers have committed over $400,000 to this short position. They would have gotten a better price had they waited until late in the trading day.
I agree man. I been predicting single digits for a long time on this POS, and its taken a lot longer then I thought. I lost some money on puts but made A LOT shorting and selling naked calls.
7,725 puts traded today and only 567 calls. Most of the put volume was in the Jan11 strikes but the Dec10 puts were also heavily traded. Someone is positioning prior to the earnings report scheduled for July 29.
buying shorts now is dumb. Although the stock could tank upon earnings if there is any bad news, anticipation leading up to earnings should raise the stock price up another $1 or so. If you are going to buy a short position, you should probably wait to early part of next week.