---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/43267308.md"
description: "$Moderna(MRNA.US) stock price dropped by over four points, but the options market tells a different story: single-day total volume was 78,193 contracts, 2.4 times the recent average daily volume, with a Put/Call ratio of just 0.183—the buying volume for calls suppressed puts significantly. However, the open interest (OI) Put/Call ratio is 1.229, indicating that existing positions remain biased towards the short side. New money is betting on a rebound, while old positions are defending. Jingdong is exactly the opposite. The stock price remained basically unchanged, yet the Put/Call ratio reached 1.94, with put volume nearly double that of calls, and overall options volume shrinking. Rising prices accompanied by shrinking put-buying volume usually do not indicate new directional shorts, but rather existing holders adding protection. One is falling while being bought in calls, the other is consolidating while being bought in puts; neither options market agrees with the spot market direction for the day."
datetime: "2026-08-07T09:44:58.000Z"
locales:
  - [en](https://longbridge.com/en/topics/43267308.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/43267308.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/43267308.md)
author: "[钉耙](https://longbridge.com/en/profiles/27353505.md)"
---

# $Moderna(MRNA.US) stock price dropped by over four…


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