Feb. 24 at 9:31 PM
What's up with
$IBIT?
Tape looks chill but options are buzzing
Big players aren't messing around
Over the last five days, about
$99M in options premium traded, 79% in puts
Spotted a cluster of large, deep in-the-money March put blocks on InsiderFinance
Looks like institutions are hedging hard or going synthetic short
Might be smart to respect the downside risk here instead of chasing unhedged upside
Keep an eye on it