BNB babcock & brown limited

what does this mean, page-2

  1. 408 Posts.
    It means somebody bought a put option with a strike price of $14.
    ie This gives them the right to sell 1,000 BNB shares at $14 at any point up until the expiry date. They have decided to exercise the put option today.

    They would have bought the put option when BNB was higher than $14 or at least close to that level.
 
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