Dec. 3 at 2:34 AM
What’s going on with
$VG?
Saw a big move today with those ITM puts
An ask-side sweep of 650 Jan 9
$7 puts right at the close shows some serious demand for downside protection
That’s about
$52.6k in play and suggests more weakness ahead into January
Also caught a massive block of Jun 18 26
$7.50 puts, about
$95K worth
This isn't just noise, looks like medium-term hedging and fits the bearish trend
Price down 3.63% today and 6.62% over five days
With 72% of today’s premium in those puts, the risk is high for continued downside
Maybe wait for some stabilization before thinking about a move