Protective put of sorts.  I own some of this stock in another account, and I think it's a well-managed commercial mortgage finance /REIT.  Had a nice run-up when it was announced the dividend was secure (again).  However, it still has substantial short interest.  It's been trading between 7.5-8ish to

10.5-11ish for the past 6 months or so.  I think the short interest along with those wanting to just capture the dividend and profit-taking by people who bought in the 7's and 8's could apply some sell pressure near term.  We shall see.

 

Cheers,