Nov. 14 at 4:09 AM
$BP took a hit today, down 1 percent
I'm seeing bullish signals
Big ask-side Jan '26 deep ITM call action with zero put flow over the last week
We're talking about around
$25 million in calls, 8,260x
$28C vs 2,358 OI plus those repeated 2,400x
$30C blocks
This kind of concentrated demand on a down day often points to more upside once things stabilize
Plus, BP repurchased about 1.54 million shares today
That buyback cushion helps limit downside and makes defined risk bullish plays more appealing than just going long on volatility
Keep an eye on it