Traders flooded into bearish positions on Zions Bancorp today after the regional lender posted an $832.2 million first-quarter loss. More than 3,900 May 9 puts changed hands this morning against open interest of just 376 contracts, at prices ranging from $0.25 to $1.30. Most of the options traded above theoretical value, which reflects strong buying interest. Money also flowed into the May 7.50 puts and the July 2.50 puts, which went for $0.12 to $0.65 and $0.10 to $0.15, respectively.

I'm puzzled ...

First ... BAK?  Okay ... that's Braskem S A ... it seems to have some sort of problem, but it doesn't seem to relate to what you are saying, and no mention of Zion Bancorp...

So I look up Zions Bancorporation ... symbol is ZION

I can't see where what you are saying relates to either one... reading news articles don't give me the figures you have...

Are you saying short BAK?  or short ZION? 

Not that I ever do shorts any more ... my legs are old.  LOL!

melany you are too funny! I love that humor!