Deep OTM put buyers in Overseas Shipping (OSG), as shares sink to new 52-week lows today. The stock is down 48 cents to $9.30 and Apr 4 puts are the most actives. 1,492 traded (91 percent Ask) vs. 365 in open interest. April 3 and 5 puts are seeing interest as well. Total volume is 4,250 puts and 560 calls and implied vols on the options on the stock is up 8 percent to 94. Shares have already lost almost 75 percent year-to-date and today’s options order flow seems to reflect expectations for additional carnage in early-2012.