$HYPE options traders are loading up on puts hard.
Top 7 contracts all on Derive. $5.45M notional in 24hrs — that's 43% of total $HYPE options flow vs Deribit.
The heavy hitters? All November puts:
$2.20M → Nov 20 $75 put
$1.11M → Nov 13 $80 put
$621K → Nov 6 $84 put
$450K → Nov 27 $85 put
This is protection buying or straight up bearish positioning. Either way, someone's expecting downside before month-end.
Watch the $75-$85 zone. If we breach, puts print.
Top 7 contracts all on Derive. $5.45M notional in 24hrs — that's 43% of total $HYPE options flow vs Deribit.
The heavy hitters? All November puts:
$2.20M → Nov 20 $75 put
$1.11M → Nov 13 $80 put
$621K → Nov 6 $84 put
$450K → Nov 27 $85 put
This is protection buying or straight up bearish positioning. Either way, someone's expecting downside before month-end.
Watch the $75-$85 zone. If we breach, puts print.
