Oct. 13 at 4:42 PM
What's up with
$SYNA today?
Seeing a +6% pop but check out those Mar 26 put sweeps
Spotted a ~
$698K cluster at the
$60 and
$50 strikes on InsiderFinance
This feels like hedging into strength with that 356-contract
$50 put against only 12 OI
No fresh news driving this so it's just a material impulse in a neutral backdrop
Price is up 5.85% today but the 5D is still down 0.20%
Long-dated flow suggests portfolio hedging over a bearish call
I'd be cautious chasing this upside
Tactical longs only with tight risk until we see more confirmation