$1.99M in premium just moved through Direxion Daily Semiconductor Bull 3X ETF ($SOXL) Nov 20 $105 puts in a single sweep on Thursday. The contracts changed hands on the sell side, on a strike 32% below the stock, a low-odds, high-payoff position.
What happened
The trade printed in the afternoon, around 2:35 p.m. ET on Thursday, October 1, with $SOXL trading near $154.43. 2,841 contracts went through at $6.99 apiece, or $699 per contract, for $1.99M in total premium.
It came in as a sweep, split across several exchanges to fill fast. Traders sweep when getting the position matters more than shaving a few cents off the price.
Only 933 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 $SOXL holds up. The seller keeps the premium as long as the stock finishes above about $98.01 by Nov 20; below that, they are effectively signed up to own it at $105. That leans bullish to neutral on SOXL.
Adjusted for delta, the position behaves like roughly 42,400 shares of SOXL, or about $6.55M of stock exposure.
With 50 days until Nov 20, this is positioning for months, not a quick flip. Implied volatility was near 133%, very high, as the market prices in big swings.
The numbers
| Contract | SOXL Nov 20 $105 Put |
|---|---|
| Expiration | Nov 20, 2026 (50 days) |
| Execution | Sweep |
| Side | Sell side (at or near the bid) |
| Contracts | 2,841 |
| Price | $6.99 ($699 per contract) |
| Total premium | $1.99M |
| Stock at the trade | $154.43 |
| Strike vs. stock | 32% out of the money |
| Breakeven at expiration | $98.01 |
| Delta | 0.15 |
| Implied volatility | 133% |
| Open interest before | 933 |
Three ways this could play out
Bullish continuation
If $SOXL pushes through $162.15, the move works for this seller and the flow starts to look like early conviction rather than noise.
Bearish rejection
If $SOXL slips under $146.71, the pressure lands on this seller, and $98.01 becomes the level that decides whether the trade is saved.
Neutral stabilization
If $SOXL chops between $146.71 and $162.15 into Nov 20, time decay does the work. That quietly pays this seller.
What to watch next
- $98.01: breakeven for this trade at expiration.
- $105 strike: whether $SOXL moves toward it or away from it.
- Open interest at the $105 put in the next session. A jump confirms a new position; a drop points to a close.
- Repeat flow in the Nov 20 expiration. More size at nearby strikes would show this was not a one-off.
- November 20, 2026: expiration, 50 days out.
