📉 SPY Derails, IWM Implodes & Google Won’t Quit – May 21 Flow Recap
Big money went DEFCON 1 on puts, while GOOGL kept sweeping and SPY got smoked
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🧼 Golden Sweeps – ETF Chaos & Tech Love 💸
This wasn’t your average flow day. We had real movement, real volume, and real degeneracy. Here's what the whales touched:
📊 Notable ETF & Index Flow:
$SPY – Absolutely hammered today. Total flow: $57.8M with $46M in puts 🤯. That’s not hedging, that’s panic.
$IWM – 15 different hits. $50.3M in flow, with $47.9M in puts. Small caps are being shorted like they’re going bankrupt tomorrow.
$QQQ – $25.8M total with a $15.8M put bias. Mixed, but defensive.
$GLD – $8M total, mostly puts. Gold bulls getting dunked on today 🏀.
$FSLR – Massive $23.78M call block at $195C for Dec '25. Long, heavy, clean. That’s conviction.
🧠 Takeaway: SPY and IWM were the punchbags of the day. Defensive positioning is thick. Meanwhile, FSLR and TSLA are catching long-dated upside bets = real believers stepping in.
🔱 Full Golden Sweeps Breakdown (with context & conviction)
✅ $FSLR
$195C – Dec 19 ‘25 | 💸 $23.78M
📍 12,163 contracts @ $19.55 | Spot: $163.63 | IV: 58%
📦 Block trade. This is real positioning. Someone sees upside in solar going into 2026 🌞
✅ $GOOGL
$185C – Dec 19 ‘25 | 💸 4 identical Sweeps, $2.7M each
🧠 10,000 contracts @ $10.80 | IV: 31%
📍 Spot: $168.16
🧼 This wasn’t random. It was deliberate, repeatable algo-style buying. Someone's piling into AI infra long-term.
✅ $CDNS
$370C – Jan 15 ‘27 | 💸 $4.65M | 1,000 contracts @ $46.50
🧱 BLOCK | Spot: $321.61
📈 Long-dated semi/design name. Quiet monster of a setup.
🌀 Unusual Orders Breakdown (aka “What in the IV is this?!”)
🚨 $SPY
$510P – Jun 30 ‘25 | 💣 $3.89M
📉 35,000 contracts @ $0.11
🧠 “Tiny premium, huge exposure.” A volatility spike bet or crash insurance.$475P – Jun 30 ‘25 | 💣 $3.71M
🩸 70,000 contracts @ $0.53
🧠 Someone’s swinging heavy for a summer bloodbath 🩸$440P – Jun 30 ‘25 | 💣 $1.05M
📉 35,000 contracts @ $0.30
➕ Laddered bear play. They're targeting multiple legs of collapse. Yikes.
🧠 $DKS
$210C – Jul 17 ‘25 | 💸 $1.54M
📈 2,000 contracts @ $7.70 | IV: 40%
🎯 Sporting goods sneaky sweep. Retail resurgence?
💊 $PDD
$85P – Mar 20 ‘26 | 💣 $291K
📉 600 contracts @ $4.85 | IV: 47%
➕ Betting Chinese tech pulls a Houdini—disappearing act incoming?
💥 $NTNX
$75P – Jun 20 ‘25 | 💣 $162K
📉 6,334 contracts @ $2.55 | IV: 56%
➕ Tech selloff prep? Short-dated + large OI = something brewing.
🕶️ Darkpool Recap – Quietly Moving Billions 🤐
Institutional-sized orders flying under the radar. Here’s the real tape:
📊 FlowScanner Leaderboard (May 21)
Other notables:
$CDNS = long-dated sleeper
$MU & $ARM = semi-sector building
$NTNX, $PDD, $NFLX = downside bets getting spicy
✅ Final Takeaways
🚨 $SPY & $IWM = full-on bear mode
💪 $GOOGL, $TSLA, $FSLR = bullish flows with conviction
🧠 $CDNS = long-dated genius or sleepy accumulation
🕶️ Darkpools say funds are quietly repositioning for a macro shift
🤖 AI ($NVDA, $GOOGL) still quietly being bought. Chips ain’t dead.
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