Garmin (GRMN) rarely sees options flows of note biut today saw 2900 November $170 puts sell to open $3.13 at as the stock is making new all time highs this week above 180 and the bullish put seller shows confidence in the 170 zone likely holding on any dips through November expiration. GRMN is now nearing a $35B market cap and has been one of the most steady climbers this year and a solid uptrend on the weekly chart in place as it stairstepped along its 8 week EMA since January. Also a name with a 1.7% dividend and seeing sales growth this year of +14% as it saw a big turnaround story from its 2022-23 weakness. Tigress has a Strong Buy rating and upped its target to $210 back in May as they cite growth across multiple key categories driven by the ongoing introduction of innovative new products and they see margin expansion continuing to drive cash flow growth and profitability.

While not everyone feels comfortable selling puts naked like these at the $170 strike, its a perfect example of also being able to choose to sell bull put spreads if inclined to follow or simply setting alerts at support at 170 and knowing that if the large short put seller is still holding in open interest that level likely is a great buy point to look for a stock buy setup. Just one of many ways to use information like seeing an opening put seller.