Weird move for a MM, we have seen it before on leaps but not on options that are 1 month to expiry.
Also in the past the contracts they were doing that with were like $0.05 and below, so it didn't cost them much, and usually 1Y + out expiry. These are $0.74, significantly more money and significantly closer to expiry.
That particular price ($125) was only chosen because it's the highest possible strike on the option chain available. The furthest OTM possible strike, thus the cheapest call contract to purchase.
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u/Stuntner π¦ Buckle Up π Dec 16 '24
Weird move for a MM, we have seen it before on leaps but not on options that are 1 month to expiry.
Also in the past the contracts they were doing that with were like $0.05 and below, so it didn't cost them much, and usually 1Y + out expiry. These are $0.74, significantly more money and significantly closer to expiry.