Mar. 12 at 4:50 PM
$FPS taking a hit today, down over 6%
Not seeing a big news catalyst but there's a big move on those April
$30 puts
Around 4,200 contracts traded, about
$1.2M in premium
Feels like some serious downside hedging happening
IV is up around 100% too
With this kind of put activity, gotta be cautious if you're holding unhedged longs
Momentum is shifting and dip-buying looks risky until this selling pressure cools off
Watch those puts closely