Unusual Options Activity: $8.3M Bet on GOOG $340 Puts Expiring Dec 18
6,032 contracts traded vs. 3,183 open interest, about $8.3M in premium.
Traders bought or sold 6,032 GOOG $340 put contracts expiring Dec 18, about $8.3M in premium, against just 3,183 contracts of existing open interest (1.9× volume to open interest). That makes it one of the largest unusual options trades in the market in the latest session.
The strike is out of the money with GOOG at $347.86 (+0.9% on the day). Volume above open interest means new positions are being opened, which is why options traders watch these prints closely. Puts gain if the stock falls below the strike before expiration, though big prints can also be hedges.
Source: Nasdaq option chains (end-of-day volume and open interest), scanned by GTA Options Flow across the 160 most active U.S. stocks.
Written by the GTA Research Desk from GTA Terminal data. Not investment advice.
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