Dec. 9 at 7:03 PM
$SLM taking a hit today
Down 14.25% after that earnings reset and dual downgrades
Not looking good
Compass Point cut them to Sell with a
$23 price target
That’s rough
Back-to-back ask-side prints in Jan 16 26
$30 puts
599 and 592 contracts at about
$4.6 to
$4.7
That's around
$555K premium with 44% IV
Heavy downside demand there
Volatility and continuation risk are high right now
Not expecting a quick bounce back
Stay cautious