Mar. 24 at 5:20 PM
$CHYM taking a hit today, down about 7.5%
Add that to a 5-day slide of 2.8% and it's a rough patch
Noticing some action with 686 April 17
$17.5 puts swept at the ask, 2 to 3% OTM
That's around
$70K in premium, showing traders are hedging for more downside into April
These put sweeps are bigger than the open interest but not flagged as unusual
No news catalyst driving this, so feels like fresh protection or speculation
Be careful with any dip-buying here
Without more confirmation in price or volume, jumping into a new short might be premature
Stay cautious
