May. 26 at 7:40 PM
$CGON taking a hit with shares down about 4% today and over the last 5 days on the COO departure news
Market's definitely on edge, repricing execution risk
But check this out, three massive ask-side call blocks just printed at 9:46am
We're talking 27,000 contracts, around
$12.3M premium
All in June and July strikes way OTM
Seems like someone's betting big on upside, but this clashes with the bearish news
Implied vol on the
$90 June 18 calls is sitting at a hefty around 152%
If you're thinking bullish, maybe consider vertical call spreads to keep risk in check
Feels like a time for caution, not a clear bet
Keep an eye on this