Jun. 28 at 8:03 PM
$CRBU Options expiry on 6/28 catalyzed a regime shift. After more than 40 sessions boxed in a narrow
$0.25 range, Friday delivered one of the highest volume days since Q2 ‘24 13.1M shares traded, signaling the first statistically significant deviation from the prior mean-reverting structure.
This spike wasn’t random. It coincided with the monthly OPEX unwind, where decaying put walls and collapsing call IV likely forced dealers to reverse hedges, unleashing latent directional flows. Price action cleanly snapped the long-term downtrend while reclaiming the 50-day SMA with conviction. The volume burst overwhelmed prior suppression, suggesting new capital not just expiry drift. Structurally, this move came after the RS authorization passed but before execution, with the
$300M shelf still active. Combined with the trimmed pipeline and dormant Pfizer RoFN clock, the timing implies non-random revaluation. Compression has broken. The coil has released
