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Kimberly-Clark is flagging after a big run, and the bears think it's ready to roll over.

optionMONSTER's Depth Charge monitoring system detected the purchase of about 5,500 October 85 puts for $3.20 to $3.60. Volume was almost 7 times open interest at the strike.

KMB fell 0.30 percent to $83.24 in early afternoon trading. The maker of products like Kleenex tissues and Huggies diapers rallied more than 20 percent between March and earlier this month, when it hit an all-time high of $88.25.

Shares fell hard after hitting that peak and has been drifting since. The stock appears to be consolidating below its 50-day moving average as well, which could make some chart watchers think a drop is coming.

Those puts bought today are in the money, which makes them highly leveraged to downside in the stock. They have a delta of -0.75, which means they will appreciate $0.75 for every $1 that KMB declines. If it drops just 5 percent, for example, those contracts will roughly double in value.

Overall option volume is more than triple the daily average today, with puts accounting for almost three-quarter of the activity.

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