Everything Got More Time, Except the One That Didn't
The options books did one thing this week and did it four times: they bought more time. Two January 2027 short puts were rolled out to June 2027 at a net credit — NBIS up a strike to 160, PLTR flat at 150 — while IONQ's puts were closed outright with no replacement, the one position in the book given no extension at all. A new June 2027 put went on in SKHY; the QCOM short call came off. On the equity side Global Tech 50 rotated ASGLY into ARM at almost exactly funded size, AI Build-Out trimmed a third of its LNVGY line, and Global ETFs did not trade at all.
The options books did one thing this week and did it four times: they bought more time. Two January 2027 short puts were rolled out to June 2027 at a net credit — NBIS up a strike to 160, PLTR flat at 150 — while IONQ's puts were closed outright with no replacement, the one position in the book given no extension at all. A new June 2027 put went on in SKHY; the QCOM short call came off. On the equity side Global Tech 50 rotated ASGLY into ARM at almost exactly funded size, AI Build-Out trimmed a third of its LNVGY line, and Global ETFs did not trade at all.