Mar. 11 at 2:50 AM
$BXSL options tape was all about those April
$25 puts today
Big player stepping in with 2,216 contracts, dropping around
$432K in premium
Volume was over 10 times the existing open interest
No news driving this and BXSL is only down about 0.5% today and 1.4% over 5 days
Feels like someone is hedging for near-term downside
Might be a caution flag
Worth keeping an eye on for more bearish flow or a price drop before going heavy on shorts
Stay sharp