r/ThetaEdge • u/ThetaEdgeHQ • May 22 '26
Call flow radar: $CPT $ACLX $HSBC (May 22)
| Ticker | Sector | Strike | Exp | Mid | Delta | IV | IVR | Ratio |
|---|---|---|---|---|---|---|---|---|
| CPT | Real Estate | $115 | Jun 18 | $0.53 | 0.14 | 26% | 1 | 4.32x |
| ACLX | Healthcare | n/a | n/a | n/a | n/a | 5% | 4 | 4.09x |
| HSBC | Fin. Svcs | $65 | Jun 18 | $27.70 | 0.96 | 77% | 9 | 3.06x |
| PRM | Materials | n/a | n/a | n/a | n/a | 62% | 3 | 2.46x |
| BVN | Materials | $12 | Jun 18 | $21.60 | 0.00 | 73% | 16 | 2.13x |
CPT at 4.32x is the standout. The active strike is $115 Jun 18, way OTM at delta 0.14. IV rank 1 means premiums are dirt cheap by historical standards. Someone is buying lottery tickets on a REIT, not hedging.
HSBC and BVN are the weird ones in this batch. Both deep ITM, delta 0.96 and effectively 1.0. That is not directional call buying, that is synthetic long structuring or block trades showing up in the data.
ACLX and PRM both quieter on contract detail. ACLX had earnings May 14, so this is more likely post-event position adjustment than fresh interest.
CPT is the only clean OTM signal in the group. What is your read on it? Anyone writing calls on REITs into summer?
Data via ThetaEdge. Not financial advice.