Unusual Put Option Volume Detected for Deckers Outdoor and Ambarella

Market data reveals a surge in options activity for Deckers Outdoor Corp. (DECK) and Ambarella, Inc. (AMBA), characterized by a heavy concentration in put options. This spike suggests increased hedging or bearish speculation as traders position themselves ahead of May 2026 expirations. For Deckers Outdoor, options trading volume reached 10,498 contracts, which represents approximately 1 million underlying shares. This activity accounts for roughly 53.2% of the company's average daily trading volume of 2 million shares over the past month. Specifically, the $113 strike put option expiring May 1, 2026, saw 582 contracts traded. Similarly, Ambarella recorded a volume of 3,707 contracts, representing approximately 370,700 underlying shares. This volume constitutes 51.5% of AMBA's average daily trading volume of 719,120 shares. The most active contract for the semiconductor firm was the $45 strike put option expiring May 29, 2026, with 1,159 contracts traded. While these flows indicate specific sentiment among options traders, such activity often reflects tactical positioning or risk management rather than a fundamental shift in the underlying corporate value. Investors typically monitor these spikes for clues regarding institutional sentiment ahead of key dates.