There is some on-going lawsuit related to the EU and anti-competitive practices with RMBS that plays a role in this stock. MU averages ~16,000 option contracts a day and I saw two 21,000 lots and two 4,000 lots go up on the ticker. You can see the trades on the Company Tab (below; click image to enlarge). 25,000 Dec 6/7 put spreads purchased for 0.18.
The Options Tab below shows the volume with the OI (open interest) - the trade is at least in part opening.
What's the bet? If this is done without stock, this is simply a bearish bet costing 25,000 x $0.18 x 100 = $450,000 to try to win $2.5 million if the stock goes to $6. It's bearish, but not a bet on a complete collapse - otherwise the trade would have skipped selling the nickels (Dec 6 Puts) and would have just opened long puts naked. We'll see...
Legal Stuff:
http://www.livevolpro.com/help/disclaimer_legal.html
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