Heavy Put Trading in Freddie Mac (FRE)

Shares of Federal Home Loan Mortgage Corporation FRE are lower on the session by 2.52%, currently trading $1.16. The stock has been selling off as of late and is now trading well below the 50-day and 200-day moving averages. I am seeing a massive amount of puts traded today. The October $1 put traded 66,962 times. This looks like it was a closing transaction to the some 70,000 open contracts currently open. Freddie Mac is engaged in purchasing residential mortgages and mortgage-related securities in the secondary mortgage market and securitizing them into mortgage-related securities that can be sold to investors.