‘Unusual' trade on SMCI stock earns trader 3,000% return in a week
SMCISuper Micro Computer(SMCI) Finbold·2024-10-31 02:00

With the share price of Super Micro Computer (NASDAQ: SMCI) crumbling amid investor concerns over its accounting practices, an unidentified trader has seen substantial gains on the company’s put contracts.In a trade considered “unusual,” the trader purchased 3,000 put contracts on SMCI at a $29 strike price, achieving a 3,000% gain in just one week, data shared by The Kobeissi Letter on October 30 indicates.The trade details reveal that the put contracts were acquired at a bargain price of $0.05 each a week ...