By David Russell
Canadian Solar (CSIQ) has inflicted pain on one investor, but the trader is now looking on the bright side.

optionMONSTER's tracking programs detected the sale of about 2,000 October 5 puts for $0.50 to $0.53. About 1,400 September 6 puts were bought at the same time for $0.98 against open interest.

That suggests that the investor had previously sold the September contracts, expecting CSIQ to hold its ground. But the stock pushed lower, and now the trader is rolling the position forward in an effort to recoup losses. He or she also increased the number of contracts to raise more cash.

The trade is consistent with a common theme since early August, with many put sellers adjusting money-losing positions in hopes that stock prices would stop falling.

CSIQ fell 7.37 percent to $5.28 on Friday and has lost 40 percent in the last three months. The company's last earnings report on Aug. 17 missed expectations by a wide margin as soaring costs offset better-than-expected revenue.

The put roll pushed overall options volume in CSIQ to 8 times greater than average.