Trader takes BIG Bearish Bet in LINE

Linn Energy, LLC, an independent oil and natural gas company, engages in the acquisition and development of oil and natural gas properties. I have traded this stock before and made money and in general I like to stick with stocks that I have made money before on. Today, we saw an institutional buy 9,000 LINE April 28 Puts for $.70. This trader has the right but not obligation to sell 900,000 Shares of stock at $28.00 and pays a debit of $630,000 for this right. The chart has been breaking to the downside and trading a LONG Portfolio, I think this is stock that is headed south as it breaks the Ichimoku Cloud to the downside.

The Trade: Buy the LINE April 28 Puts for $.70
Risk: $70 per 1 lot
Target #1: $1.00
Target #2: $1.25
Target #: $1.50

Greeks of this Trade:
Delta: Short
Gamma: Long
Theta: Short
Vega: Long