Buying the "Doom" Puts on Delta Air Lines (DAL)

From What's Trading?:

...An opening customer buyer paid 14cents for more than 11000 69% out-of-the-money “DOOM” puts on Delta Airlines this morning, opening a position in the Jan14 3 strike puts that would need to see DAL trade below their March 2009 all-time low to expire with any value. Might offset a credit trade on the airline. The premium suggests roughly a (14/286) 4.8% chance of DAL defaulting in the next 450 days....