Sea Ltd closed at USD 119.45, slipping 2.04% from the previous session.
Large options trades in SE skewed decisively bullish, though with modest size. The standout flow was a single out-of-the-money put sale at the 113.00 strike expiring in August 2026, worth $0.10 million. No bearish premium was recorded, making the net bullish difference $0.10 million. The activity suggests a premium-collecting stance and constructive downside tolerance rather than an aggressive upside chase.
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Options Indicators
SE’s implied volatility is 41.54%, and its IV percentile is 20.72%, which places current option pricing in the lower end of its historical range. In other words, volatility is on the low side and options appear relatively cheap rather than richly priced. The IV/HV ratio of 0.66 also suggests implied volatility is running below realized volatility, reinforcing the view that current premiums are not especially expensive for traders considering volatility exposure.
The Call/Put volume ratio is 1.11.
Large Trades
A PUT sale worth $0.10 million was the standout large trade, with 2,807 contracts sold at the 113.00 strike expiring on 2026-08-21. With the stock reference price at 119.45, this put was out-of-the-money at the time of the trade, which makes the position moderately bullish in tone. Strategically, selling an out-of-the-money put typically reflects willingness to collect premium while expressing confidence that SE will stay above 113.00 into expiration, and it can also indicate interest in potentially accumulating shares at an effective entry level below the current stock price.
Overall sentiment in SE’s large-trade flow was bullish, with total bullish premium at $0.10 million versus bearish premium at $0.00 million, for a net bullish difference of $0.10 million. The directional takeaway is clearly positive, though the conviction level appears measured rather than aggressive because the activity was concentrated in a single out-of-the-money put sale, a structure more consistent with premium collection and constructive downside tolerance than with an outright high-conviction upside chase.
Strategy Reference
For a low assignment probability, a put seller could consider the 105.00 strike or lower in the same August 2026 expiry, giving a wider buffer below current price; alternatively, a put credit spread such as selling the 113.00 put and buying the 105.00 put can define risk while reducing margin requirements.
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