Unusual bearish options trade flagged: $2.48M put at $115 strike

A large, one‑sided put trade with a large open interest spike could indicate institutional hedging or a directional bearish bet.

In this brief: 2 sections 1 min read

- Put option at $115 strike, expiry September 17, 2027.
- Premium reported at $2,484,000 and volume listed as 2,000 contracts.
- Open interest change flagged at +806% (massive surge vs prior OI).
- Could be an institutional hedge on an existing long position (in‑the‑money put).
- Could also reflect a large directional bearish wager given size and long-dated expiry.
- TrendSpider noted no offsetting unusual call activity the same day.

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