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April 30, 2013  Tue 3:47 AM CT

One investor apparently thinks that there's no going back for Tata Motors with the Indian car maker now solidly above its 200-day moving average.

optionMONSTER's tracking programs detected the sale of 2,000 January 24 puts for $1.65, clearly a new position because there was no previous open interest in the strike. The trade dominated activity in the stock, which normally trades fewer than 600 contracts per session.

The investor is now on the hook to buy TTM for $24 if it closes below that level on expiration. Above that strike price, the trader keeps the $1.65 as profit. Traders often sell puts when they like a stock but want to buy it at a lower price. (See our Education section for more on how to turn time into money with options.)

TTM rose 1.48 percent to $27.40 yesterday and has been snaking its way upward since last summer. It's now back above its 200-day moving average and has been making incrementally higher lows above its peaks from the 2006-2008 period.

The news has also been positive recently as the company's Jaguar Land Rover unit gains traction in emerging markets.

Total option volume was quadruple the daily average in the session.
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