Seagate closed at USD 807.57, up 0.24%.
Large options trades leaned bullish, highlighted by a $1.28 million out-of-the-money put sale at the 570.0 strike expiring November 2026. With Seagate trading near 807.57, the position reflects confidence in downside support and an income-oriented strategy rather than bearish hedging. Overall flow suggests investors are constructive on the name.
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Options Indicators
Seagate’s implied volatility is 66.16%, while its IV percentile stands at 13.55%, indicating that although the absolute IV level appears high, it is low relative to its own historical range. In other words, volatility is currently on the cheaper side and options are being priced relatively inexpensively rather than at an elevated premium. The IV/HV ratio of 0.95 also suggests implied volatility is roughly in line with, and slightly below, recent realized volatility.
The Call/Put volume ratio is 1.32.
Large Trades
A put sale worth $1.28 million was the standout large trade, with 2,250 contracts sold at the 570.0 strike expiring on 2026-11-20. With Seagate referenced at 807.57, this put was clearly out of the money, making it a moderately bullish to income-oriented position. The seller is effectively expressing confidence that the stock will remain above 570.0 through expiration, allowing the premium to decay, while also signaling willingness to accumulate shares at a much lower effective entry level if assigned.
Overall, the large-trade flow points to a bullish bias. The only notable block was an out-of-the-money put sale, which typically reflects confidence in downside support rather than fear of an imminent drop. That structure suggests investors are leaning constructive on Seagate, with sentiment shaped more by premium collection and a willingness to buy weakness than by outright downside hedging or bearish speculation.
Strategy Reference
For a similarly low assignment probability while collecting premium, a seller could consider a shorter-dated put around the 600.00 strike or a bull put spread such as selling 600.00 and buying 520.00 to cap margin requirements.