May. 11 at 11:04 PM
What's up with
$TTMI today?
It's popping up 3.6% with a surge in near-weekly OTM call activity
Looks like a short term high volatility play heading into Friday's expiry
Saw three big ask side sweeps in the May 15
$185 calls
We're talking 1,275 contracts against just 106 open interest with a hefty
$242K premium
IV is sitting around 95 to 98%
This is 11 to 13% OTM with 4 days to expiry showing some serious upside positioning by a big player
If you're jumping in, keep it tactical
This isn't a low risk entry
Stick to defined risk setups given how close we are to expiry and how far OTM