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Post by Clement on Jun 21, 2021 7:54:00 GMT -5
Puts July 16 expiration
strike price 4.50
open interest 6,016 contracts (representing 601,600 shares)
This open interest is large. There are two sides to the trade. What it means to me is that there is a sort of battleground at 4.50.
This the third month that I have noticed large open interest at 4.50.
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Post by mnkdfann on Jun 21, 2021 15:32:59 GMT -5
Well, since April the SP has mostly traded between 4.10 and 4.80, so it makes perfect sense the 4.50 options would have a large open interest. It would be surprising if that wasn't the case.
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Post by Clement on Jul 8, 2021 12:19:20 GMT -5
Puts July 16 expiration strike price 4.50 open interest 6,016 contracts (representing 601,600 shares) This open interest is large. There are two sides to the trade. What it means to me is that there is a sort of battleground at 4.50. This the third month that I have noticed large open interest at 4.50. Now, open interest is 435. Down from 6016. No longer a battleground at 4.5. |
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Post by sr71 on Jul 8, 2021 14:48:28 GMT -5
E-trade is still showing 6k open interest on those puts.
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Post by Clement on Jul 9, 2021 6:08:38 GMT -5
E-trade is still showing 6k open interest on those puts. sr is correct. My apologies. I checked after reading sr and found I had made a mistake. Going to the ophalmologist right away (seriously - this morning). Added by edit: The last option price is 0.05 (check me out on this), down drastically from the time of my post at the top of this thread. |
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Post by peppy on Jul 9, 2021 6:12:39 GMT -5
Puts July 16 expiration strike price 4.50open interest 6,016 contracts (representing 601,600 shares)This open interest is large. There are two sides to the trade. What it means to me is that there is a sort of battleground at 4.50. This the third month that I have noticed large open interest at 4.50. Will the CBOE make more money by having these puts end up worth less? Is that the way it works? |
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Post by sr71 on Jul 9, 2021 11:20:50 GMT -5
E-trade is still showing 6k open interest on those puts. sr is correct. My apologies. I checked after reading sr and found I had made a mistake. Going to the ophalmologist right away (seriously - this morning). Added by edit: The last option price is 0.05 (check me out on this), down drastically from the time of my post at the top of this thread. Yes, 6,054 of those Puts traded at an average price of 0.44 on June 18. Somebody is up now ~$250,000 on it, but somebody else is down a similar amount. It's hard to see what the thinking was on the losing side of the trade. |
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Post by Clement on Jul 20, 2021 7:14:30 GMT -5
Here we go again.
Puts Aug 20 expiration
strike price 4.50
open interest 8,841 contracts (representing 884,100 shares)
This open interest is large. At the last price of 0.55 (can't take that too seriously but it is what it is), there are about a half million dollars on the table.
This the fourth month that I have noticed large open interest at 4.50. There is still a battleground at 4.50. This is interesting to watch.
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Post by akemp3000 on Jul 20, 2021 7:42:39 GMT -5
If the 4.50 battleground price remains through August 20, then the following eight weeks leading up to the October 15 PDUFA date will be fascinating to watch to say the least.
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Post by hellodolly on Jul 20, 2021 9:57:28 GMT -5
Here we go again. Puts Aug 20 expiration strike price 4.50 open interest 8,841 contracts (representing 884,100 shares) This open interest is large. At the last price of 0.55 (can't take that too seriously but it is what it is), there are about a half million dollars on the table. This the fourth month that I have noticed large open interest at 4.50. There is still a battleground at 4.50. This is interesting to watch. PR on Aug 20 would be perfect timing to kibosh the $4.50 crew...MC. |
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Post by sr71 on Jul 20, 2021 10:44:16 GMT -5
6K of that Aug 20 position was put on late last week at an average price of approximately 42 cents.
Even if it was rolled from the July 16 position, it was an expensive one.
Breakeven for Aug 20 would be at ~ $4.08, which wouldn't even begin to cover similar losses from the previous strike months you mentioned.
Maybe it's someone who's been accumulating a substantial number of shares cheaply during the past few months, who would profit extremely well should a large price increase in the lead-up to Tyvaso DPI approval occur.
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Post by lakon on Jul 20, 2021 22:22:36 GMT -5
I'm thinking about it myself...  |
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Post by Clement on Aug 6, 2021 11:11:51 GMT -5
Here we go again. Puts Aug 20 expiration strike price 4.50 open interest 8,841 contracts (representing 884,100 shares) This open interest is large. At the last price of 0.55 (can't take that too seriously but it is what it is), there are about a half million dollars on the table. This the fourth month that I have noticed large open interest at 4.50. There is still a battleground at 4.50. This is interesting to watch. Open interest remains large. ...... 8,459 contracts Last price 0.54 Not many are closing their positions so far. |
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Post by sr71 on Aug 6, 2021 12:40:33 GMT -5
The Buy side of those 8,459 contracts is profitable at ~$4.06 or lower.
Also, it may be very difficult to sell that many contracts during the next two weeks by expiration day.
As a result, I would expect them to be exercised.
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Post by cedafuntennis on Aug 6, 2021 12:57:14 GMT -5
sr is correct. My apologies. I checked after reading sr and found I had made a mistake. Going to the ophalmologist right away (seriously - this morning). Added by edit: The last option price is 0.05 (check me out on this), down drastically from the time of my post at the top of this thread. Yes, 6,054 of those Puts traded at an average price of 0.44 on June 18. Somebody is up now ~$250,000 on it, but somebody else is down a similar amount. It's hard to see what the thinking was on the losing side of the trade. may have just been the market makers |
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