The Ghost Prints console flagged Oracle's 52% squeeze 3 days early.

Most traders bought after the move. Ghost Prints members saw the unusual call activity piling up before the breakout.

This isn't hindsight—it's what the surveillance system does every week.

👉 WATCH THE REPLAY: SEE THE ORACLE SETUP BREAKDOWN →

This Crazy ORCL Trade Is…Not So Crazy After All

By Brandon Chapman, CMT

Oracle dropped 4.5% following disappointing earnings. Most traders think the move is done. They are wrong.

This morning, an institutional trader spent $1.7 million betting on more red candles. 

They bought 10,000 put contracts at the $160 strike with less than a month until expiration. 

This trade can only be profitable if Oracle drops 15% in just three weeks. 

That is one aggressive trade. 

To some that might be a crazy bet. 

Let me explain what makes this Ghost Print signal different from typical bearish speculation, and show you a way to profit from this.

The Trade That Forces Selling Pressure

At 9:53 AM Eastern on December 15th, 10,000 contracts hit the tape on Oracle's January 16th $160 puts. Market makers sold those puts. They now hold massive short put exposure at a strike price 14% below Oracle's current trading level of $185.

The immediate problem: market makers must hedge their risk. When you sell puts, you have positive delta (price movement) exposure. To neutralize that risk, you short the underlying stock.

That creates structural selling pressure. This isn't speculative. It's mechanical. Market makers are forced participants in the downside move.

Right now, those puts carry an 11 delta. That means for every $1 Oracle drops, those puts gain $0.11 in value. Market makers hedge proportionally to that delta. At 11 delta, the hedging is minimal.

But here's where gamma changes everything.

How Gamma Turns Small Moves Into Acceleration

If Oracle drops from $185 to $160, that 11 delta becomes 50. The put options move from deep out-of-the-money to at-the-money. Market makers must increase their short stock position by over 4x to maintain proper hedging.

That's not optional. That's gamma. As Oracle falls, delta rises, forcing more short selling, which pressures the stock lower, which increases delta further. The feedback loop amplifies itself.

With only 30 days before expiration closes in, time decay works against the option buyer but gamma works in their favor. The closer we get to January 9th, the faster delta changes with each dollar of price movement.

Oracle already faced infrastructure concerns before this print. Data center spending questions. Power availability issues. Liquidity constraints on tens of billions in capital expenditure. The stock dropped on earnings because the growth story showed cracks.

Now we have $1.7 million in institutional capital positioned for continued weakness. With structural selling pressure built into the market maker hedging dynamics.

Translating Signal Into Trade

The Ghost Print Surveillance Console reveals directional bias and gamma positioning when a large block trade shows up. How to translate that into actionable trade structure isn’t as hard as you might think.

Direct exposure through buying puts requires significant capital and faces time decay. A more efficient approach uses defined risk through a bearish put spread.

The trade structure: Buy the $180 put, sell the $175 put, 30 days out. Maximum risk is the cost of the trade. Maximum profit potential is $5 less the cost. Trades like this are often set up with a 1.5-to-1 reward-to-risk ratio, sometimes higher reward to risk.

So it gives you plenty of opportunity to make a high percentage of profit in a short period of time, even if ORCL doesn’t make it all the way down to $160. That’s how to translate Ghost Prints into trades. Look for a trade that still profits well from a more conservative move than the print.

Why This Setup Matters Now

Most Ghost Prints reveal future moves before they happen. This one is different. The move already started. Oracle reported disappointing earnings. The stock gapped down.

But the $1.7 million trade suggests the move isn't finished. Someone with serious capital believes Oracle continues lower over the next 30 days. They're willing to risk significant money on puts that only profit if Oracle drops another 14%.

The gamma dynamics create the mechanism for that move to accelerate if it begins. The put spread structure provides defined risk exposure to capture a portion of that potential move.

When institutional capital places directional bets this size with this tight timeframe, the options market is revealing information. The $160 strike might seem aggressive. But the gamma pressure building around that level creates self-reinforcing downside momentum.

Oracle's infrastructure concerns aren't going away. The capital expenditure questions persist. The growth slowdown in data center spending affects the entire sector. 

The Ghost Print reveals where smart money is positioned for that continued weakness. The spread trade provides efficient exposure to capture a piece of that move.

Learn how to identify these trades in real-time with the Ghost Prints Console.

Brandon Chapman, CMT
Creator of Ghost Prints