The reason WHY obtain far "IN THE MONEY" Options?

[Razor_Morozumi]

I noticed INSTITUTE bought large sizes of QQQ PUT options last week as EXP of 1/20/2023.
Some of them are like this as below.

Bought......Expire...Strike..C/P..Spot.....Size...Price...Premium
---------------------------------------------------------------------------------------
12/28/22 1/20/23 300 PUT 262.81 22,900 $37.16 $85M
12/28/22 1/20/23 300 PUT 260.95 18,325 $39.06 $72M
12/28/22 1/20/23 335 PUT 260.95 14,250 $74.06 $105M
12/29/22 1/20/23 335 PUT 266.69 11,025 $68.34 $75M
12/30/22 1/20/23 335 PUT 263.51 12,100 $71.48 $87M

Then I have a question WHY Institute bought such Options which has a way IN THE MONEY that cost a large premium?
I know the size of the cash is not an issue for them and afford to pay such a size of the premium.
Because they DO NOT WANT to reveal their Options transaction if the strike price is closer to the AT THE MONEY range?

Please someone enlighten me on what kind of benefit is expected from them to buy such Options which have much larger IN THE MONEY conditions?
Thank you.

 

[andre.muhammad]

I noticed INSTITUTE bought large sizes of QQQ PUT options last week as EXP of 1/20/2023.
Some of them are like this as below.

Bought......Expire...Strike..C/P..Spot.....Size...Price...Premium
---------------------------------------------------------------------------------------
12/28/22 1/20/23 300 PUT 262.81 22,900 $37.16 $85M
12/28/22 1/20/23 300 PUT 260.95 18,325 $39.06 $72M
12/28/22 1/20/23 335 PUT 260.95 14,250 $74.06 $105M
12/29/22 1/20/23 335 PUT 266.69 11,025 $68.34 $75M
12/30/22 1/20/23 335 PUT 263.51 12,100 $71.48 $87M

Then I have a question WHY Institute bought such Options which has a way IN THE MONEY that cost a large premium?
I know the size of the cash is not an issue for them and afford to pay such a size of the premium.
Because they DO NOT WANT to reveal their Options transaction if the strike price is closer to the AT THE MONEY range?

Please someone enlighten me on what kind of benefit is expected from them to buy such Options which have much larger IN THE MONEY conditions?
Thank you.

It could be that they are buying the deep in the money so they can keep selling short term at the money.

 

[cocomelon]

I noticed INSTITUTE bought large sizes of QQQ PUT options last week as EXP of 1/20/2023.
Some of them are like this as below.

Bought......Expire...Strike..C/P..Spot.....Size...Price...Premium
---------------------------------------------------------------------------------------
12/28/22 1/20/23 300 PUT 262.81 22,900 $37.16 $85M
12/28/22 1/20/23 300 PUT 260.95 18,325 $39.06 $72M
12/28/22 1/20/23 335 PUT 260.95 14,250 $74.06 $105M
12/29/22 1/20/23 335 PUT 266.69 11,025 $68.34 $75M
12/30/22 1/20/23 335 PUT 263.51 12,100 $71.48 $87M

Then I have a question WHY Institute bought such Options which has a way IN THE MONEY that cost a large premium?
I know the size of the cash is not an issue for them and afford to pay such a size of the premium.
Because they DO NOT WANT to reveal their Options transaction if the strike price is closer to the AT THE MONEY range?

Please someone enlighten me on what kind of benefit is expected from them to buy such Options which have much larger IN THE MONEY conditions?
Thank you.

Don't you mind if I ask where/how you got above data? did you see the ride on 1/20/2023?

 

[Razor_Morozumi]

I got data from https://www.cheddarflow.com/

Yes, under real-time simulation trading on TOS, I made $7.2k net profit on 1/20/2023
check TRIBUTE INVESTMENT on twitter