Joy-Global (JOYG) shares were down slightly Monday, with implied volatility up 7.3% and has one of the largest negative net Deltas among stocks today, an indication of bearish sentiment. At 10am there was a buyer of 2,000 February $55 puts at the 44 offer with shares at $54.20. The trade comes as shares are at resistance of a descending triangle that has formed, with $50 the lower support level, a potential target move from here. Shares of the mining machinery firm have been a big gainer in 2009, but now trade at 15.7X earnings, 6.9X book value, and 19.4X cash flow, a bit lofty on valuation. Shares also had a DeMark red 13 sell Indication.