52k Block Trade Buys VIX Calls

$VIX$

The broader market is pulling back as expected, with new short positions continuously joining the sell-off. For instance, on Monday, the VIX February 2026 24 call $VIX 20260218 24.0 CALL$  saw 52,000 contracts traded, indicating a bullish directional bet.

You can add this to your watchlist—once this position starts unwinding, it might be a good time to consider establishing long positions.

$SPY$

Monday’s options flow showed concentrated opening of out-of-the-money puts at the 630 strike, significantly raising the likelihood of a pullback toward 640.
$SPY 20251219 632.0 PUT$  $SPY 20251120 635.0 PUT$  $SPY 20251120 630.0 PUT$ 

$NVDA$

There’s good news and bad news. The good news is that those looking to buy the dip may get a major opportunity. The bad news is that existing positions will likely see weaker returns in the near term.

I think buying around $170 is reasonable, but seeing the 130 put opening really caught me off guard $NVDA 20260116 130.0 PUT$ . While $130 may not be the target, it could be a volatility long—still, it signals a potentially sharp, roller-coaster-like downturn during this correction.

So it’s possible the pullback breaks below $170 toward $160. Those holding shares may consider selling calls on rebounds as a hedge.

$BABA$

Earnings were weak. The November 28th 157.5 put saw 18.7k contracts opened with buying pressure $BABA 20251128 157.5 PUT$ . Shareholders are advised to hedge by selling calls, such as the $BABA 20251128 170.0 CALL$ .