QuantInsider
Oct 23, 10:24 PM
$WGS got hit hard today, down over 16%
Seeing aggressive put sweeps in those short-dated
$60S
Institutions are paying up for downside protection and it’s pushing near-term volatility to crazy levels
All 2,133 contracts in the past 5 days were ask-side buys, piling into the 10/30
$60 puts
That’s over
$1.17M in premium and about 10 times normal volume
With implied volatility at 145 to 185%, new buyers are paying a hefty price
No obvious news driving this but the demand for downside protection is real
Keep an eye on how this plays out if the selling pressure continues
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