This morning 6,000 Ginkgo Bioworks Holdings, Inc. (Symbol: DNA) September 15 ’23 1.5 puts traded at $0.29. The open interest of the puts at the time of the trade was 1,300 indicating that the trader was putting on an opening position. The puts are a 32 delta and the equivalent of 192,000 shares of stock. DNA currently trades at $1.64 so the buyer may have a long position that they are buying downside protection for or believe that DNA may go below $1.50, needing it to go lower than $1.21 to make a profit (excluding commission).
DNA has a 52-week high of $4.91 and a 52-week low of $1.12.
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