Puts, puts, puts, puts, PUTS!
That’s what we’re seeing hit my News Flow Scanner on Monday to kick off a new trading week after a sharp rally in the S&P 500 last week. And kicking things off, we have the dirty dog — double-D-O-G, Datadog, which reports earnings before the open on Tuesday.
We saw a trader step in to buy the Nov. 10 expiration, $71 strike puts in DDOG, dropping about $146K with shares down over 2% on the day to right about $80 a share. This stock is a high-flier and market makers expect about an $8 move higher or lower after its report.
It’s rare to see DDOG hit the News Flow Scanner, so this caught my attention. It could easily be downside protection so as always, trade small, trade smart.
We also saw someone step in and scoop up a 1,000-lot of the weekly $115 puts in DR Horton, totalling about $223K in premium ahead of the homebuilder’s earnings report Tuesday morning.
Homebuilders caught a bid last week, so this trader could be looking for a retracement back down…
We also saw some Nvidia, Trade Desk and Yeti puts… so check out my video for the full breakdown in 1 minute flat!
Monday’s Top Order Flow:
- DDOG Nov23 10th Strike: 71 Puts premium: $145,629 ASK BEARISH
Trade Date: November 6, 2023 Trade Time: 10:13 am
- DHI Nov23 10th Strike: 115 Puts premium: $223,362 ABOVE ASK BEARISH
Trade Date: November 6, 2023 Trade Time: 10:15 am
- NVDA Nov23 10th Strike: 442.5 Puts premium: $116,986 ABOVE ASK BEARISH
Trade Date: November 6, 2023 Trade Time: 9:56 am
- YETI Nov23 10th Strike: 40 Puts premium: $165,315 ABOVE ASK BEARISH
Trade Date: November 6, 2023 Trade Time: 9:46 am
- And more!
Note: If no date is listed after the month, it’s the monthly expiration (third Friday).
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*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk.
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