Shares of Louisiana Pacific, the TN based building material and construction firm, are flat at $9.10 but the May $10 puts are active for the second day in a row. This morning a block of 5,600 (now total of 7,300) was sold at the $1.00 bid. Similar sale occurred yesterday and resulted in a decline in open interest so this appears to be continued liquidation of a bearish position that was established across several days a few weeks ago as OI in the strike grew from 1,900 contracts on 3/22 to 17,000 on 4/5 with a few multi-thousand blocks on three separate days accounted for most of the increase. The stock was trading between $9.80 and $10.20 during that time and the puts were 55c-80c. The stock has slid some 13% since then and it looks like the bulk of position will now be close out in the $1.00-$1.10 range.