IONQ Inc. (IONQ) shares plummeted 5.42% during intraday trading on Friday, as investors reacted to increased bearish sentiment in the options market. The stock was trading near $66.50, down $2.94 from the previous close.
Option traders displayed a notably bearish stance on IONQ, with put volume reaching 1.8 times the expected level. A total of 42,972 puts were traded, indicating significant downside bets on the stock. The most active options were the 9/26 weekly 65 puts and October-25 60 puts, suggesting that traders are positioning for potential further declines in the near to medium term.
The surge in bearish options activity appears to be driving the sell-off in IONQ shares. As put buyers increase their positions, it may be creating downward pressure on the stock price. Investors should monitor this options flow closely, as it could signal continued volatility for IONQ in the coming trading sessions.