Apr. 21 at 11:59 PM
What's up with
$VALE today?
Down around 2% after a 5-day slide
The options tape is looking bearish
Over 80% put action shows institutions are hedging instead of buying dips
Spotted a big move
5,309 contracts of June 18
$18 puts swept at the ask with about
$557K in premium on InsiderFinance
Open interest was just 942
This fresh downside bet is making traders think twice about going bullish in the near term
Stay cautious, folks