TradeAlert May 9 at 9:46 AM · $STMP Stamps.com implosion yields windfall for recent put buyer. Shares off $45, or 54%, to $38 this morning following disappointing earnings, reduced guidance, and rating cuts, surprising option traders who had expected a move near 14% based on last night's closing straddle price. While pre-earnings options flow near 10K contracts was moderately heavy, the most impressive action took place Tuesday, when an afternoon buyer accumulated 1500 May 10th 65 puts for 81c in a number of late afternoon sweeps when shares were near $83.30. At trade time, these puts were 10 delta, and nearly 22% out of the money and total premium spent was $121K. Now $27 in the money, position value is an astounding $4M- a two-day return of well over 3000%.