1.76 million Robinhood options contracts remain open, signaling sustained bearish bets despite elevated trading volume

1.76 million Robinhood options contracts remain open as of April 8th, indicating traders are holding directional positions in the stock with a notable tilt toward downside protection. That day, 271.75K contracts changed hands, with call options making up 61.05% of volume and puts accounting for 38.95%. Despite the majority of trading activity favoring calls, the largest single unusual trade was a put: 4,292 contracts at an $80.00 strike price expiring May 15, 2026, representing $3.61 million in turnover. Open interest — the number of contracts not yet closed — totaled 1.76 million, equivalent to 97.32% of the 30-day average, suggesting options activity has neither spiked nor collapsed but remains tightly aligned with recent norms. The most liquid contract of the day, based on volume, was an option that traded 12,019 times and settled at $0.44. The concentration of open positions near current price levels reflects cautious sentiment, with significant bets positioned above the stock’s $75.93 trading level. The $80.00 put dominance in unusual activity underscores that while overall sentiment isn’t overwhelmingly bearish, large traders are hedging or speculating on limited near-term upside. 1.76 million open contracts signal sustained, not speculative, positioning in Robinhood shares.