Trading Options with an Edge
Select Page

Hawk’s Nest

New EV Maker Sees Opening Put Sellers Call for Bottom

by | Aug 2, 2022

Polestar Automotive (PSNY) weak action since IPO in June but seeing opening put sellers for 3,000 January $7.50 puts sold aggressively on bids at $1.76 and down to $1.70. The EV maker from Sweden has been sluggish since its IPO in June near the 13 level but now under 9 and potential for some momentum to emerge from this double bottom zone from early July. Opening puts sales into lows often can mark a bottom and these longer term January put sellers are confident being long shares at $7.50.