Aug. 15 at 11:40 PM
$NEE is looking hot right now
We're seeing a big expiration day play with those 1,194 contracts of 8/15
$73 calls swept for
$350K
Dealers have to hedge by buying shares into the close which should push the stock and implied vol higher
And it's not just today
There's more action with a 1,500 contract sweep of 8/22
$74 calls for
$341K premium
This aggressive call accumulation keeps dealer hedges on their toes
It's likely driving momentum and IV skew into next week
Feels like we're setting up for a gamma driven squeeze that could really amplify any post earnings bounce
Keep your eyes on this one