Usman Salis
⬤ Oracle shares hovered around $200 today while unusual options activity revealed aggressive downside bets. Short-dated ORCL puts attracted more than $1.5 million in premium, focused on contracts expiring in just 11 days and sitting 13% below current prices. The stock closed at $200.82 after dropping 0.56%, reflecting weak sentiment throughout the session.
⬤ The December 12 ORCL $175 strike put saw a major surge, with 5,802 contracts changing hands against open interest of only 780. Over 5,200 contracts traded at the ask price—a clear sign of aggressive buyers jumping in rather than closing existing positions. Average fills came in around $2.67, pushing total premium spent to approximately $1.55 million. Broader flow data shows net put premiums running way higher than calls, pointing to a clear shift in trader positioning after Oracle's recent weakness.
⬤ Intraday charts showed rising put interest alongside elevated ORCL volume exceeding 158,000 shares. The stock bounced between $196.70 and $203.50, while net put premium hit roughly negative $2.82 million. This surge in put demand stands out compared to recent sessions, where premium levels ran much lower. The concentrated betting below current prices suggests either protective hedging or outright bearish speculation.
⬤ The spike in short-dated put buying signals growing caution around Oracle's near-term direction. When traders throw serious money at contracts expiring within days, it usually means they're expecting sharp moves or a break below key support levels. With ORCL trading below recent support and expiration approaching fast, the market's watching to see if downside pressure picks up steam.
Usman Salis
