A $1.53M large options trade hit $SOXL Oct 23 $90 puts on Friday, the kind of size that gets noticed on SOXL's options tape. The contracts changed hands on the sell side, on a strike 4.1% below the stock.
What happened
The trade printed in the final half hour, around 3:55 p.m. ET on Friday, October 16, with $SOXL trading near $93.80. 2,789 contracts went through at $5.50 apiece, or $550 per contract, for $1.53M in total premium.
It went through as one large print rather than being worked in small pieces.
There were already 6,823 contracts open at this strike, so the trade could be adding to a position or unwinding one. The next open-interest update will settle which.
Why it matters
Selling puts gets paid if $SOXL holds up. The seller keeps the premium as long as the stock finishes above about $84.50 by Oct 23; below that, they are effectively signed up to own it at $90. That leans bullish to neutral on SOXL.
Adjusted for delta, the position behaves like roughly 101,400 shares of SOXL, or about $9.51M of stock exposure.
With 6 days until Oct 23, this is a bet on the next few sessions, not the next few months. Implied volatility was near 142%, very high, as the market prices in big swings.
The numbers
| Contract | SOXL Oct 23 $90 Put |
|---|---|
| Expiration | Oct 23, 2026 (6 days) |
| Execution | Large Options Trade |
| Side | Sell side (at or near the bid) |
| Contracts | 2,789 |
| Price | $5.50 ($550 per contract) |
| Total premium | $1.53M |
| Stock at the trade | $93.80 |
| Strike vs. stock | 4.1% out of the money |
| Breakeven at expiration | $84.50 |
| Delta | 0.36 |
| Implied volatility | 142% |
| Open interest before | 6,823 |
Three ways this could play out
Bullish continuation
If $SOXL pushes through $98.49, the move works for this seller and the flow starts to look like early conviction rather than noise.
Bearish rejection
If $SOXL slips under $89.11, the pressure lands on this seller, and $84.50 becomes the level that decides whether the trade is saved.
Neutral stabilization
If $SOXL chops between $89.11 and $98.49 into Oct 23, time decay does the work. That quietly pays this seller.
What to watch next
- $84.50: breakeven for this trade at expiration.
- $90 strike: whether $SOXL moves toward it or away from it.
- Open interest at the $90 put in the next session. A jump confirms a new position; a drop points to a close.
- Repeat flow in the Oct 23 expiration. More size at nearby strikes would show this was not a one-off.
- October 23, 2026: expiration, 6 days out.
