Schaeffer's Daily Option Blog: Long-Term Put Players Bet on a Pullback for Ctrip.com International Ltd.

China-based travel titan Ctrip.com International, Ltd. (NASDAQ: CTRP) was popular among put players on Tuesday, as investors place their bets ahead of the firm's annual shareholders meeting tomorrow. During the course of the session, the security saw roughly 2,200 puts cross the tape – more than tripling its average daily volume of fewer than 700 puts, and nearly six times the number of CTRP calls traded.

The stock's deep-out-of-the-money October 50 put garnered the most attention, with almost 1,000 contracts changing hands. Put open interest at the 50 strike declined by about 300 contracts overnight, suggesting that a healthy amount of yesterday's volume consisted of liquidations ahead of expiration.

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