This appears to be the classic ?tiny put? sale where the customer is selling a far out of the money put, in this case over 40% in order to collect a small premium that is highly likely to land in his or her pocket.?
Molson Coors Brewing Company, trading 101.08 (up .34) with an IV30 of 26.09 up 2.19 and an HV10 of 29.87 is seeing HUGE tiny put trading.? The August 60 puts have traded at .05, likely sold almost 6900 times with one block trading 5k times, opening.? This stock does an ADV of 2350 and has an OI of 49,000.
This appears to be the classic ?tiny put? sale where the customer is selling a far out of the money put, in this case over 40% in order to collect a small premium that is highly likely to land in his or her pocket.? Market makers seem willing to buy it for margin purposes and/or to have some ?bullets? to sell something else.
This trade is bearish volatility.