RE:Very large put open interestWho in their right mind would have a naked short? There have been block buys recently for 500k shares, plus. Think about this logically; if the court hasn’t yet issued a decision by the middle of June, chances of this drifting lower is high. If they do issue a positive ruling, then the few million they spent on insurance pales in comparison to their 50+% gains. If they issue a negative ruling (remote risk if you’ve been following all the news), they are protected. On balance, a large fund who likes Tahoe generally will take puts to protect their position if remote contingencies materialize.
Stop trying to scare people out of theit shares by cherry picking facts.