Mar. 17 at 6:24 PM
Seeing some interesting action in
$STWD
About 12.9k contracts of Sept 2026
$12 to
$13 puts bought recently
That's a big move for long-dated downside protection
Looks more like a quiet hedge than a major bearish play
Stock's up around 1.97% today and holding steady over the week
Plus they just confirmed a
$0.48 Q1 dividend
All this puts the heavy put buying in a different light
Not seeing an outright short signal yet
These puts are cheap with IV in the mid-30s to low-40s
Good for long-term hedging but not likely to end in the money soon
If you're thinking of copying this, maybe consider put spreads instead
