A large trade is looking for a floor in cloud-computing company Brightcove as shares plummet after disappointing earnings.
BCOV is plunging 37.05 percent to $6.47 in midday trading after falling to $6.06 earlier in the session, an all-time low. It closed above $10 yesterday.
Despite the action, a trader sold 10,000 August 5 puts for $0.06, according to optionMONSTER systems. There was no open interest at that strike, so this is a new position.
— Option Monster