QuantInsider
Oct 23, 3:15 AM
What’s going on with
$IREN?
After an 8% drop today and a 13% slide over five days, the options tape is showing caution
Volume is about 1.6 times normal with 64 to 75% of premiums in puts
Big players are clearly hedging against more downside with tomorrow's expiry and Nov 5 earnings coming up
Saw three deep in the money put blocks at
$40,
$38, and
$36 strikes today totaling
$10.9 million
That’s some serious downside exposure
If you’re holding unhedged long, you might want to be careful heading into Friday
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