I would not bet on SD going under 9.00 in the next 6 months -it is undervalued here and will approach 17-20 in the next 6 months -imo --- there ARE some that will place that put --come PT do it -do it -
I saw that too. That position looks to me like someone who can't sell the stock, for whatever reason, thinks the share price is way overbid. He loses any more profit if the share price goes higher, and makes out huge if the price drops to just above $9 by September.
This story mentions that position and also mentions another guy who must think his shares are overpriced. This looks like a hedge on a one million share position. But this guy is leaving room for a share price increase up to $13.
It's time to re-visit the possibility of a bearish spread of some sort here. Maybe it's still a little early, but the possibility needs to be explored.