$Domino's(DPZ.US) and $Bullish(BLSH.US) both saw slight declines, with modest magnitude, but the put/call ratio in the options order book is 9.62 for one and 6.16 for the other, with put contracts overwhelmingly piled up.
For a food service stock like $Domino's(DPZ.US) with stable cash flows, such an extreme put structure likely doesn't indicate directional bearishness, but rather resembles holders buying protection before the earnings window; $Bullish(BLSH.US) is a relatively new crypto exchange, and with a ratio above 6 alongside the underlying stock falling, the component of directional bets is much larger.
While both see clustered put bets, one is buying insurance and the other is betting on direction; following the ratio to copy trades easily leads to copying in the wrong direction.
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