Options Traders Bet on Mosaic Decline

OptionMonster co-founder Pete Najarian provides options picks Monday, Wednesday and Friday in TheStreet.com's Deep in the Money Calls newsletter.

Jon "DRJ" Najarian, co-founder of OptionMonster.

Mosaic(MOS Quote) is down sharply this afternoon along with strong downside options activity.

Mosaic averaged 6,500 puts traded each day in the last week, but today 26,000 of them changed hands in the first hour of trade alone. That included 13,200 contracts at the September 35 strike, where two blocks of 4,800 puts traded for $1.40 and $1.45. ...