optionMONSTER submits:
By David Russell
Navistar (NAV) gapped lower on a bad earnings report today, and the bears are looking for a steeper push to the downside.
optionMONSTER’s Depth Charge tracking system detected heavy buying of the March 40 puts, which traded 3,263 times against open interest of 2,350 contracts. Most of the institutional-size transactions priced for $0.40 to $0.45.