The company averages 466 option contracts a day. Today nearly 3,500 have traded. Further, all but 10 contracts have been puts. You can see the Jan 25 (front month ATM) Puts are the action (3,280 traded). Note the small OI relative to the trade size - these are opening order purchases. There has been a recent run up in the stock. Some new large shareholders have been selling stock that was used in an acquisition of their company @ 23.50 through an offering. Other than that, I don't see a whole lot of news. You can see details, trades, prices, charts on my blog: http://livevol.blogspot.com/2009/12/gsi-commerce-gsic-atm-front-month-put.html