Mar. 19 at 1:57 AM
$BILI looking rough today
Big money sweeping in with aggressive ITM puts at the
$30 strike
Stock's down nearly 5% and there's no news driving it
Saw around 7,016 contracts for June 18 at the ask
Huge premium, over 12 times the open interest
This isn't retail action
Institutions are clearly positioning for more downside into early summer
March 20 puts also hit hard
Another
$3M in premiums as BILI dropped 4.7%
With IV at 94 to 139%, these puts aren't cheap
If you're bearish, maybe consider defined risk put spreads instead of chasing these pricey options
