A Barchart report today shows unusually heavy trading in Oracle Corp (ORCL) put options ahead of its earnings due out next Wednesday, June 10, after the market closes. This may signal investors are bearish on ORCL stock, just as occurred last quarter.
ORCL is at $240.23, down over 3.2% today in midday trading. However, in the past month, ORCL stock has skyrocketed, up +48.8% since April 30 ($161.39). That could be another reason why there is heavy put option buying today.
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