Puts Sold in Brookdale

Shares of Brookdale Senior Living (NYSE: BKD) are falling sharply today to $18.96, off 5.62%. The owner of healthcare facilities has now breached the 50-day moving average to the downside, which is usually a bearish sign.

I am seeing puts sold in Brookdale Senior Living, though. The May $20 put was sold 1,060 times a short while ago; open interest on the strike is 1,068, which indicates that a long put holder is taking profits in the name. This means that they think the stock will find a bottom around here in the near-term.