Jun. 17 at 11:59 PM
$P saw some interesting action today
After a solid 3.8% rally over 5 days, we got hit with a big wave of deep ITM puts expiring tomorrow
About
$3.6M worth traded at the ask with 76% of the flow and IV over 300%
Whether these are hedges or outright shorts, it's clear there's some caution in the air
This kind of setup could crank up the volatility into tomorrow's session
If you're thinking of going long, tight risk management is key
On the flip side, someone dropped
$371K on Aug 21
$80 calls
That hints at medium-term upside
Keep
$80 on the radar if
$P stabilizes and rebounds
Overall
