【December 11th US Stock Options Leaderboard】
$Oracle (ORCL)$ Put ratio is almost "one-sided": Put accounts for 99.86%, with a net active buy of $888 million, and large orders concentrated on 25/12 260P, 280P, 290P (mostly BUY), resembling post-earnings protection/short squeeze resonance. Fundamentally, the guidance is weak + Capex raised, and the market is concerned about slowing returns on AI investments.
👉 Strategy: Do not bet against V, prioritize Put debit spreads (buy ATM Put, sell more out-of-the-money Put to reduce costs); use a Collar (sell OTM Call + buy Put) to lock in downside.
$Netflix (NFLX)$ Put ratio is 98.87%, with a net active buy of $23.49 million, more like event-driven hedging. The largest market disagreement surrounds Netflix's proposed acquisition of WBD assets, with concerns about regulation and integration (big deals are most afraid of "prolonged delays + repeated pricing").
👉 Strategy: Lean conservative with bearish Put spreads; if only looking at volatility pullbacks, doing calendar spreads (selling near month, buying far month) is more cost-effective.
$Coinbase Global (COIN)$ The unusual purchase ratio shows almost all are Put: Net active selling of Put is $116 million, resembling "selling panic, collecting volatility." On that day, BTC fell below $90,000, and crypto stocks retreated simultaneously.
👉 Strategy: Lean bullish but control risk, use bullish Put spreads to collect interest; do not sell Put naked, at least pair with further out OTM Put for disaster protection.
