Yesterday BX traded about 4500 Oct 19 22 put option contracts and about 3500 Oct 19 23 Put option contracts. This type of bet suggests that BX will miss earnings --- I'm long 20,000+ shares. Anyone have any insights?
This is due derivatives, some block house agreed to buy at certain price and had bought an insurance, in case September – October correction.
Please ignore what you are looking at, the syndicate or block house who plans to buy big block may do that to pocket money.
You will see the same on Ford and Bank of America. Every week the stock creates a situation which resolves the next week.
BX should be bought for long-term for six months to a year. For day to day trading, it difficult to trade base on over bought and oversold.