Watch These 8 Huge Put Purchases In Wednesday Trade

Benzinga's newsdesk monitors options activity to notice unusual patterns. These large volume (and often out of the money) trades were initially published intraday in Benzinga Professional . These trades were placed during Tuesday’s regular session.

• Snap Inc SNAP May 12th 21.5 Puts Sweep: 10341 @ ASK $0.90: 11k traded vs 937 OI: $22.93 Ref
• Nuance Communications Inc. NUAN May 17.0 Puts Sweep: 3078 @ ASK $0.30: 8252 traded vs 313 OI: $18.09 Ref
• Michaels Companies Inc MIK Jun 22.5 Puts: 1487 @ Above Ask! $1.50: 2974 traded vs 18 OI: Earnings 6/6 Before Open [est] $21.63 Ref
• Avis Budget Group Inc. CAR Aug 27.0 Puts Sweep: 2000 @ ASK $3.186: 2023 traded vs 653 OI: Earnings 8/2 After Close [est] $26.61 Ref
• TrueCar Inc TRUE May 16.0 Puts Sweep: 1501 @ ASK $0.40: 1636 traded vs 274 OI: $17.21 Ref
• Sturm Ruger & Company Inc RGR Oct 40.0 Puts Sweep: 607 @ ASK $0.35: 991 traded vs 51 OI: $66.00 Ref
• Square Inc SQ May 20.0 Puts Sweep: 687 @ ASK $0.55: 776 traded vs 3402 OI: Earnings 8/3 After Close [est] $19.82 Ref
• Synchronoss Technologies, Inc. SNCR May 15.0 Puts Sweep: 505 @ ASK $0.845: 619 traded vs 2777 OI: Earnings 5/15 After Close $15.66 Ref