$WORK Slack - Overbought, Bearish Options Activity

WORK Slack - Hitting resistance today at $30.50 and beginning to retrace.

Unusual Bearish Options Activity Yesterday -
12k $30.00 strike (ITM) Dec'20 puts traded vs open interest <2k or 6x OI for a total premium outlay of $5M

Near term target: $25.00-$26.00 range by late October



Note: This is NOT investment advice.