Is $20 the Bottom for Facebook?

Facebook Inc. FB shares have set new lows in four of the last five trading days. Thursday, the stock broke $20 for the first time with a low of $19.91 as of writing. Some notable options trades suggested at least some investors believe this is the bottom. The "weekly" 20 strike put saw an opening seller of 9,000 contracts at $0.30. if Facebook closes above $20 on August 3, this trade would see the put seller pocket the premium collected ($270k). Alternatively, if the stock closes below that price level, the put seller would be "put" 900k shares at $20. The other opening trades that carried a bullish sentiment were the three 5,000 contract multi-exchange sweeps of the September 22 calls on offers of $1.05. These trades would need Facebook shares to climb at least 15.3 percent by September expiration to reach break-even. Thursday total contract volume for the company surpassed 300k contracts, with a put/call ratio of 1.25.