Huge Trades of IDTI Sep 19 puts driving up IV
Integrated Device and Technology Inc. currently trading 18.23 is down 1.38 has been seeing aggressive put buying today.? On the day at traders have bought both tied and untied to stock over 9,200 of the Sep 19 puts running the strike IV up 9 points and overall IV30 up 5 points.? This is 100% opening paper.
Traders are betting that IDTI?s bad day may likely continue, and based on the strike selection, traders seem to want a slightly heavier delta as the 19 puts are closer to a 60 delta.? This trade should be considered aggressively bearish the underlying and bullish volatility in IDTI in the near term
Traders looking to piggy back this trade could consider the Sep 18/16 put spread for about .60 as it has favorable risk reward and less Vega exposure.