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• PPO 100% Rate It

Polypore has been stabilizing after a long pullback, and traders apparently think that it's finally at a bottom.

optionMONSTER's tracking programs detected the sale of about 2,000 June 32.50 puts in the maker of filtration systems for $0.70 to $0.80. Volume was more than 40 times previous open interest in the strike.

The trader is now obligated to buy PPO shares for $32.50 if they close below that level 3-1/2 weeks from now. If they remain above it, the puts will expire worthless and he or she will keep the credit as profit.

PPO rose 0.68 percent to $36.92 yesterday. The stock rallied more than 2,000 percent between March 2009 and last summer but was then cut in half, and shares have been basing since March while staying above $32.50. Traders may believe that it will remain above that level, which would help explain the put sale . (See our Education section)

Overall option volume was 5 times greater than average in the session.

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