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Unusual Option Volume

WBA Walgreens Boots Alliance17.45+0.11 (+0.6%)

I noticed a lot of bearish pressure coming from the options market on $WBA. Check out this order imbalance! -253 K option volume delta. What is option volume delta?
$WBA negative imbalance of -282 K option volume delta...indicating traderes are more bearish on the stock
$WBA negative imbalance of -375 K option volume delta...indicating traderes are more bearish on the stock

WBA 18.09-1.09 (-5.7%)Walgreens Boots Alliance

  • ATM straddle for 19-Apr-24 expiration returned a positive 57.7% from the previous business day
  • The upside wing (25 delta calls) declined -75.9%
  • Downside put (25 delta puts) gained 312.9%
  • The option volume for 19-Apr-24 expiration is 12,378
$WBA Bullish pressure building up in the options market. On-Balance net option delta is 897 K.