Paper sold 50,000 QQQ March 96 puts at 1.30 tied up to stock at 100.2 on a 30 delta.?
Power shares QQQ Trust Series, trading 101.90 with an IV30 of 23.56 and an HV10 of 21.86, saw a large put sale tied up. The ETF, which represents the Nasdaq 100 has ADV of 563,000 and OI of 3.8 million contracts, saw a customer sell 50,000 of the March 96 puts at 1.30 tied up to stock at 100.2 on a 30 delta.? The stock has rallied over the last few hours much higher.
This is a vol sale of QQQ where the customer is betting that the underlying is NOT going to drop too much.?? It appears to be premium capture and also could be a trader partially replacing a stock position with options.? The customer clearly thinks that the self-off today is NOT a long lasting stock dump.
This trade is aggressively short volatility and mildly bullish QQQ