Shares of Cliff Natural Resources, which have declined some 20 percent in the past two weeks, are getting a 5% bounce today up $2.52 to $42.47 a share. But someone might be getting religion a little late and wanting some protection in case another 30 percent drop is in the cards, as a block of 3,000 of the July $30 puts was purchased at the $1.90 asking price. Shares of CLF are still up some 150% from March lows.