Aug. 23 at 8:44 PM
$MITK May 21
$20 calls:
$816K of flagged call flow crossed that line on Friday. The strike is 7.8% above spot (
$18.56), MITK has to actually move for these to pay, and 271 days out gives the thesis room to breathe. For what it's worth, the model puts the odds of price tagging that strike before expiry near 88%. Volume ran 170.5x the standing open interest, which is the signature of a position being built, not unwound.
Call buying this size is either straight conviction on a move higher or a short position getting nervous, both read bullish for the coming months. Zooming out, flagged premium across the whole feed is running roughly 73% calls / 27% puts Friday, swimming with the tide. Into the closing hour, when the real money often shows its hand.
