Put Volume Grows in iStar Financial (SFI)

Shares of iStar Financial Inc. SFI are lower on the session by 2.65%, currently trading $5.69. The stock has been a relative outperformer as of late and is still managing to hold the 50-day moving average. Options trading is favoring the put side today, though sentiment is mixed. The July $5 put was sold on the bid 2,000 times today for between $0.45-0.50, apparently closing out a long put position, given the open interest of 5,904 contracts. In addition to that, someone bought 3,800 of the January 2011 $5 puts for $1.45-1.50. Open interest on that strike is 3,365 contracts. The trades occurred at markedly different times so it does not appear that they were linked. iStar Financial Inc. is a finance company focused on the commercial real estate industry. The Company primarily provides financing to high-end private and corporate owners of real estate, including senior and mezzanine real estate debt, senior and mezzanine corporate capital, as well as corporate net lease financing and equity.