By Pete Najarian, co-founder of OptionMonsterCINCINNATI ( TheStreet) -- Fifth Third Bancorp ( FITB) has been testing the lower end of its range since plunging in the last few weeks and it still can't shake the bears. OptionMonster's tracking systems detected heavy activity in the Cincinnati-based lender's July and August puts. The August 11-August 10 ratio spread was the most popular trade, entailing the purchase of August 11s for 41 cents and the sale of the August 10s for about 22 cents. The trade was executed on more than 12,000 contracts and will earn more than 400% if FITB closes at or below $10 on expiration. The stock has been trying to hold support at its 200-day moving average, and Tuesday rose 1.86% to $12.04. The last earnings report in April showed some improvement, with fewer delinquent loans, and now the market is waiting for the next release before the bell on July 22. The overall picture painted in the options market was pretty negative Tuesday, with almost 40,000 puts changing vs. about 2,300 calls. Najarian has no position in the stocks mentioned.