Today (Friday 6/5) our stock options scanner picked up a large expiration in ZM options. ZM had earnings this week and this is likely why today has such a concentrated options expiration. Based on our model, we see that there is a large amount of Delta at the 200 strike that is set to expire. Our theory here is that those call positions which have a large amount of delta will expire and when this happens options dealers may have to sell their stock hedge, and this may impact the stock.
Of note is the action in ZM stock today which is down despite the QQQ (Nasdaq) which is up significantly.
At this moment there is a large amount of options activity relative to the Friday open interest, so it tough to assess if hedges have been removed already. We will be tracking this into next week.
NOTE: The author and or other employees of SpotGamma may have positions in this security. The above information is for data purposes only and is NOT intended as a solicitation to buy or sell the security.