Today, November 15, 2021, in the market capitalization-weighted index NASDAQ Global Select Market Composite (NasdaqGS), we saw unusual or noteworthy options trading volume and activity today in Marqeta, Inc., which opened at $24.52.
There were 15,000 contracts traded on the $22.5 strike put option, bought to open at the ask, dated for November 19th, 2021.
Additionally, there were 10,000 contracts traded on the $25 strike put option, however at a mid price, and for the same date. Furthermore, the volume on the $25 strike put contracts did not exceed the open interest.
These contracts represent approximately 2,500,000 shares and $3,000,000 in premium traded.
These orders come after Marqeta, Inc. reported its Q3 earnings.
Hypothetically, if the $25 strike contracts were short, as in sold to collect a credit, this strategy would be somewhat bullish with unexpected downside protection. This sort of ratio spread is unusual, and there cannot be a clear understanding as to why it was taken on this morning.
In the Nasdaq Global Market Composite (NasdaqGM), we saw unusual or noteworthy options trading volume and activity in Faraday Future Intelligent Electric Inc. (FFIE), which opened today at $8.57.
There were 10,000 contracts traded on the $10 strike put option, dated for November 19th, 2021, sold at the bid.
Additionally, there were another 10,000 contracts traded on the $10 strike put option dated for January 21st, 2022, bought at the ask.
These contracts represent approximately 1,000,000 shares and $3,300,000 in premium traded.
It would be anticipated that these put option contracts were rolled from the November 19th expiration to the January 21st expiration.
62.3% of premiums are in bearish positions, with 62.4% as ask-side orders, and 98% of premiums in puts.
Finally, and in the market capitalization-weighted index NASDAQ Global Select Market Composite (NasdaqGS), we saw unusual or noteworthy options trading volume and activity today in Dollar Tree, Inc. (DLTR), which opened at $123.14.
There were 750 contracts traded on the $135 strike call option, sold to open at the bid, dated for November 26th, 2021.
Additionally, there were 700 contracts traded on the $130 strike call option, bought to open at the ask, for the same date.
These orders, if they were indeed traded as part of a strategy, represent an asymmetric call debit spread, approximately 145,000 shares and $679,000 in premium traded.
It is worth noting that additional orders could have been traded as a part of a greater strategy in addition to the two legs reported above.
Furthermore, these orders come after Dollar Tree, Inc. received analyst price upgrades from $69 to $148 this morning.
As of this writing, Dollar Tree, Inc. has had 51,505 calls traded, which is 460% greater than its 30-day call average.
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