However! I would advise certain caution. Everything like this sometimes work.. and sometimes not at all.
Huge put buying time ago was very likely Goldmann Sachs hedging their holdings (in their filling there are puts in the same value like holdings - a lot).
Thus... sometimes you can read something meaningful and sometimes it you can misguide yourself grossly.
Also, huge put volume can be interpreted as very bullish contrarian signal.
So, here we are :-) With our informed (hopefully :-)) guess that the inner value of CCME is far more than the market price. That is why I hold.