Ross Stores (ROST, news, chart, volatility) puts are busy. More than 6,000 traded, compared to 264 calls. Most of the action is due to a three-way spread, where a player bought 2,000 Feb 30 puts, sold 2,000 Feb 27.5 and sold 2,000 Feb 25. They paid 20 cents total and this spread seems to be a new position with a subsantially bearish risk graph.