A large trader is betting that chip maker ARM Holdings will hold current levels in coming weeks.
More than 8,500 ARMH options have traded, compared to a daily average of 1,140 in the last month. That was dominated by one print in the February 48 puts.
optionMONSTER systems show that a trader sold 8,300 of those puts for the bid price of $1.75 on a relatively wide bid/ask spread. This is clearly a new position, as volume was 10 times the previous open interest in the strike.
— Option Monster