More than 4,000 had traded by the end of the session, quadruple the existing open interest in the strike. There was also modest buying in the October 13 calls, though volume was below previous positioning in that contract.
HUN opened higher, pulled back, and then attempted to rally. But it ended down 2.44 percent at $10.41 as sellers took profits across the market in the final hour of trading.
The chemical company reported some extremely bullish financials earlier in the year, but then margins got squeezed by inflation and the bears cut its value in half.
Overall options volume was 7 times greater than average, with calls outnumbering puts by 10 to 1.
Second Opinion: Using Options to Play Chemicals
—Russell owns HUN shares.
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David Russell is a reporter and writer for OptionMonster.