Option Focus | Meta Sees $8.57 Million Put Sale at $720 Strike for December 2026, Signaling Bullish Premium-Collecting Strategy Despite Elevated IV

Meta closed at $762.50, up 2.63%.

Large options trades in Meta showed a decisive bullish tilt, highlighted by a single $8.57 million put sale. The dominant flow was premium collection on an out-of-the-money put, reflecting confidence in downside support rather than an outright bearish view.

>>>Start OPTIONS trading & earn up to SGD 200 in rewards!

Options Indicators

Meta’s implied volatility is 45.34%, and with an IV percentile of 83.67%, current option volatility sits in an elevated range, indicating options are priced expensively relative to their own recent history. Although the IV/HV ratio of 0.86 suggests implied volatility is not dramatically stretched versus realized volatility, the high percentile still points to a market where option premiums are on the rich side, so outright premium buying faces a less favorable pricing backdrop.

The Call/Put volume ratio is 1.45.

Large Trades

A put sale worth $8.57 million stood out as the key large trade, with 2,926 contracts sold on the December 18, 2026 $720.00 put. With META referenced at $766.78, this strike sits out of the money, making the trade structurally bullish. Selling an out-of-the-money put typically reflects willingness to accumulate shares at a lower effective entry level or, alternatively, a view that the stock will remain above the strike through expiration while the seller collects premium. The trade therefore signals confidence in downside support around the $720.00 area rather than an outright bearish stance.

Overall, the bulk-order flow points to a clear bullish bias in META. The large-trade activity was entirely dominated by premium-selling on an out-of-the-money put, which usually indicates constructive sentiment, comfort with owning weakness, and expectations that the stock can hold above a lower support zone into 2026 expiration. In short, institutional-sized flow suggests investors are leaning bullish and see limited near-term probability of a breakdown below $720.00.

Strategy Reference

For traders seeking a lower assignment probability than the $720.00 put, selling the December 2026 $650.00 put may offer a wider cushion while still collecting elevated premium; alternatively, a bull put spread such as selling the $720.00 put and buying the $640.00 put can reduce margin requirements while maintaining a defined-risk bullish stance.