Circle Internet closed at 67.12 USD, up 3.29%.
Circle Internet saw a notable large options trade on Thursday: a single sale of 1,500 put contracts at the 55.0 strike, expiring in March 2027, for roughly $810,000. The block was out of the money relative to the reference price of 67.12, and it stood out as the only significant bulk order in an otherwise quiet session. The positioning leans bullish, with the seller collecting premium and signaling confidence that Circle Internet will hold well above the 55.0 level into expiration.
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Options Indicators
Circle Internet currently has an implied volatility (IV) of 77.09%, while its IV percentile stands at 16.33%, indicating that although the absolute IV level is high, it sits near the lower end of its own historical range. In other words, volatility is on the low side relative to its recent history, and options appear cheaply priced rather than expensive. The IV/HV ratio of 1.02 also suggests implied volatility is closely aligned with realized volatility, meaning the options market is not assigning a significant premium over actual recent movement.
The Call/Put volume ratio is 1.57.
Large Trades
A $810,000 put sale was the standout large trade in CRCL, with 1,500 contracts sold at the 55.0 strike expiring on 2027-03-19. With the stock reference price at 67.12, this put was out of the money at the time of the trade, indicating a moderately bullish stance. Strategically, selling an out-of-the-money put at this strike suggests the trader was willing to collect premium while expressing confidence that CRCL will remain above 55.0 into expiration, or at least not decline sharply enough to make assignment unattractive.
Overall, the large-trade flow in CRCL was clearly bullish. The only notable block was an out-of-the-money put sale, which typically reflects premium-collection demand combined with a constructive view on downside risk. With no meaningful bearish large-trade activity appearing alongside it, the bulk-order positioning points to a market tone that is leaning positively on CRCL rather than preparing for a major downside move.
Strategy Reference
For sellers seeking lower assignment probability, a shorter-dated put spread such as selling the 60.00 put and buying the 55.00 put could reduce margin requirements while still capturing premium, though the original 55.00 short put remains the clearest expression of the observed bullish flow.
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