Jun. 27 at 3:06 AM
What’s up with
$AXTI?
Even with a 1.6% bounce today, it’s still down about 25% over five days
Saw a massive short-dated downside put sweep
Big players are using this bounce to grab near-term protection instead of chasing a rebound
Noticed a roughly 20k-contract July 2
$40 put golden sweep hit the ask on InsiderFinance
That’s about a
$1.24M premium, 41% OTM, with IV around 271%
This shows strong demand for protection
Makes unhedged long positions look shaky until this downside play gets unwound or proven wrong
