While the markets were slow for the holiday season, it didn’t stop options in FuelCell Energy (FCEL) from trading quite briskly.  The hydrogen fuel cell company released earnings last week and reported a wider than expected loss on lower revenues.  The share price fell nearly 14% on the day with over 200,000 options trading.  The traded contracts split pretty equally between calls and puts.  The biggest trade of the day was a large put purchase in January options which could be a hedge. It also may suggest FCEL has further to fall in the coming weeks.