OPTIONS FLOW$NBISNebius Group N.V.Open ticker analysis →
Nebius options lit up on Tuesday when a $2.97M large options trade crossed in the Sep 17, 2027 $160 puts. The contracts changed hands on the sell side, on a strike 22.6% below the stock, a low-odds, high-payoff position.
What happened
The trade printed in the final half hour, around 3:45 p.m. ET on Tuesday, October 13, with $NBIS trading near $206.79. 1,000 contracts went through at $29.70 apiece, or $2,970 per contract, for $2.97M in total premium.
It printed as a cross, with a buyer and seller matched in one pre-arranged print, a common way for large desks to trade size.
Only 136 contracts were open at this strike beforehand, so at least part of this is a fresh position rather than an old one being closed.
Why it matters
Selling puts gets paid if $NBIS holds up. The seller keeps the premium as long as the stock finishes above about $130.30 by Sep 17, 2027; below that, they are effectively signed up to own it at $160. That leans bullish to neutral on Nebius.
Adjusted for delta, the position behaves like roughly 22,400 shares of NBIS, or about $4.64M of stock exposure in a company valued near $57.1B.
With 339 days until Sep 17, 2027, this is positioning for months, not a quick flip. Implied volatility ran around 77%, elevated, which means traders are paying up for movement.
The numbers
| Contract | NBIS Sep 17, 2027 $160 Put |
|---|---|
| Expiration | Sep 17, 2027 (339 days) |
| Execution | Large Options Trade |
| Side | Sell side (at or near the bid) |
| Contracts | 1,000 |
| Price | $29.70 ($2,970 per contract) |
| Total premium | $2.97M |
| Stock at the trade | $206.79 |
| Strike vs. stock | 22.6% out of the money |
| Breakeven at expiration | $130.30 |
| Delta | 0.22 |
| Implied volatility | 77% |
| Open interest before | 136 |
Three ways this could play out
Bullish continuation
If $NBIS pushes through $217.12, the move works for this seller and the flow starts to look like early conviction rather than noise.
Bearish rejection
If $NBIS slips under $196.45, the pressure lands on this seller, and $130.30 becomes the level that decides whether the trade is saved.
Neutral stabilization
If $NBIS chops between $196.45 and $217.12 into Sep 17, 2027, time decay does the work. That quietly pays this seller.
What to watch next
- $130.30: breakeven for this trade at expiration.
- $160 strike: whether $NBIS moves toward it or away from it.
- Open interest at the $160 put in the next session. A jump confirms a new position; a drop points to a close.
- Repeat flow in the Sep 17, 2027 expiration. More size at nearby strikes would show this was not a one-off.
- September 17, 2027: expiration, 339 days out.
