Shares of Darden Restaurants have been declining since last fall, and the bears apparently want to send the stock even lower.
OptionMonster's tracking programs detected the purchase of about 6,500 March 45 puts against previous open interest of just 1,425 contracts. The initial blocks priced for $0.60, but then ratcheted higher as the stock pushed lower and they ended the session worth $1.30.
This puts lock in the price where investors can sell shares no matter how low they may fall. That gives them a strong inverse correlation to the stock, making them behave similarly to short selling. The advantage of the strategy is that it can lose no more than the initial cost of the options.