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,
G

