Dollar Tree (P/C Chart, news, chart, volatility) March puts at the 42.5, 40, and 37.5 strikes all saw open interest increase by roughly 3000 contracts. The top trades of the day Thursday included: 2000 Mar 42.5s ask-side for $2.78, 2000 Mar 40 puts mid-market for $1.75, and 2000 March 37.5 puts for $1.10. Since the open interest data suggests new positions in all three, the activity looks like a substantial “tree”, or buying the 42.5s and selling the other two. So it looks like an investor opened a put Tree on Dollar Tree. Isn’t it ironic?