One trader is counting on limited downside in SunEdison with shares near multi-year highs.
optionMONSTER systems detected the sale of a single block of 2,776 January 13 puts for the bid price of $0.91. Open interest in the strike was just 490 contracts before the trade appeared, clearly showing that it is a new position.
The put seller is looking for SUNE to hold above $13 through expiration in mid-January. They take the risk of having to buy shares if they are below that strike before the expiration.
— Option Monster