Options traders hit HSBC on Friday, buying up 71,000 puts, a record. A put is a bet that the shares will decline in value.

“While no financial institution has been spared the ignominy of option traders’ downside bets in recent sessions, most of the option action has centered on US-based banks and brokerage,” Rebecca Darst, an analyst for Interactive Brokers Group, said. “Today the bears turned their attention across the Atlantic, looking for a big slide over the next two months in Europe’s largest bank.”