Jul. 9 at 12:36 AM
Seeing some interesting action in
$PMT today
All 10 trades were aggressive deep ITM call blocks at the ask on InsiderFinance
They're clustered in the
$2.5 and
$5 strikes for around
$1.28M in premium
Looks like a quiet build-up into tomorrow's ex-dividend date but no strong directional edge yet
PMT's ex-div is tomorrow with a
$0.40 payout
Could see a gap down by the dividend amount
Those ITM calls come with early exercise risk so keep that in mind
Stock's down 3.95% over five days and 1.42% today
High implied volatility means any bullish move might be best after stabilization maybe with call spreads