Usman Salis
⬤ Oracle stock slipped over 1.5% during the morning session, trading around $201.59 after an early drop that briefly pushed shares below $198. The decline came alongside heavy put option activity, with net put premium hitting negative $2.15 million while call premium stayed subdued at negative $3.14 million. The imbalance between puts and calls suggests traders are leaning toward protective or bearish positions rather than betting on upside.
⬤ Options volume reached roughly 103,000 contracts early in the day, with total premium around $45.4 million and overall net premium at approximately negative $989,541. The strong negative premium reflects the market's cautious stance, as put buyers outpaced call buyers throughout the 6:30 to 9:00 AM trading window. This kind of flow typically shows up when investors are hedging against further downside or expecting near-term weakness.
⬤ The combination of falling prices and rising put activity matters because it reveals how sentiment is shifting around Oracle. When downside protection costs more and the stock is already dropping, it often signals that traders are preparing for continued volatility. The options data gives a real-time snapshot of market positioning, showing that bearish momentum is building as the session unfolds.
Usman Salis
