Feb. 15 at 12:15 PM
$XENE options just went wild with a 145x volume spike, all in the April 17 expiry
That's around 7,389 contracts and
$2.8M in premium
But what's the play here
We've got a big
$1.9M block in April
$60 calls, 42% OTM, but no news or follow-through to give it real direction
Open interest is already up, so unless we see more action, it's just noise
On the flip side, three big blocks in April
$30 to
$32.5 puts suggest some hedging for a potential drop
Stock has been flat for five days, so it looks like positioning for volatility more than anything
Bottom line is there’s no clear edge for big moves
