Today, within the market capitalization-weighted index NASDAQ Global Select Market Composite (NasdaqGS), we saw unusual or noteworthy options trading volume and activity in Caesars Entertainment, Inc. (CZR), which opened at $113.01.
Following our report yesterday, where the Unusual Whales Flow spotted 3,367 contracts sold on the $135 strike call option dated for December 17th, 2021, there have been additional unusual options activity in the gambling and gaming sector today:
This trade would be considered a vertical put debit spread, a bearish strategy with approximately a 33.1% probability of profit. The maximum risk of this trade would be the cost of entry, or the debit, amounting to $283,500. The maximum return would be $766,500, and a break-even price if Caesars Entertainment, Inc. ends at $112.11 at the date of expiration.
As a reminder from our report yesterday, these orders come after reports stating that insiders sold US$4.4m worth of stock suggesting impending weakness.
As seen, bearish premium still accounts for 82.1% of the options chains, with 99% in put volume, with 86.4% of the flow at the ask.
Within the market capitalization-weighted index NASDAQ Global Select Market Composite (NasdaqGS), we saw unusual or noteworthy options trading volume and activity in Logitech International S.A., which opened today at $86.18.
There were 3,250 contracts traded on the $85 strike put option at the ask, dated for December 17th, 2021, representing approximately 325,000 shares.
These orders come after reports that LOGI might be oversold and also a value stock pick based upon Validea's Peter Lynch's valuation methodologies.
As of this writing, LOGI has had 6,732 puts traded, which is 336% greater than its 30-day put average.
Finally, within the market capitalization-weighted index NASDAQ Global Select Market Composite (NasdaqGS), we saw unusual or noteworthy options trading volume and activity in Bilibili Inc., which opened at $62.72.
There were 1,000 contracts traded on the $70 strike put option at the ask, dated for November 19th, 2021, representing approximately 100,000 shares, or $1,000,000 in premium traded.
These orders come after Simply Wall St’s reports explaining:
BILI’s “saving grace is the CN¥19.0b on the balance sheet. That means it could keep spending at its current rate for more than two years. With very solid revenue growth in the last year, Bilibili may be on a path to profitability.”
As seen, in spite of the aforementioned reports, bearish premium still accounts for 92.4% of the options chains, and the primary strike traded is the $65 option chain, with the October 15th, 2021 and November 19th, 2021 expirations being the most popular at these premium levels.
Of note, there is not yet significant bullish betting on later-dated chains at higher, $30,000 or above, premium levels.
To view more information about BILI's flow breakdown, click here to visit unusualwhales.com.
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