The put contract at the $21.00 strike price has a current bid of 45 cents. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $21.00, but will also collect the premium, putting the cost basis of the shares at $20.55 (before broker commissions). To an investor already interested in purchasing shares of SBLK, that could represent an attractive alternative to paying $21.14/share today.