Shares of Nebius Group (NBIS) experienced a sharp decline during Wednesday's intraday trading, plummeting 12.15% in a significant downturn for the stock. The sudden drop has caught the attention of investors and market analysts alike, as they seek to understand the factors driving this substantial sell-off.

The plunge in Nebius Group's stock price coincides with a notable surge in bearish options activity. Trading data reveals an unusually high volume of put options, with 55,606 puts changing hands - a staggering six times the expected volume. The most active options were the 3/28 weekly 26 puts and the 3/28 weekly 22.5 puts, indicating that traders are positioning themselves for potential further downside in the near term.

This heavy put volume and directionally bearish sentiment in the options market suggest that investors are growing increasingly pessimistic about Nebius Group's short-term prospects. While the exact reasons for this bearish outlook remain unclear, the intense options activity is likely contributing to the downward pressure on the stock price. Shareholders and potential investors should closely monitor any forthcoming news or announcements from Nebius Group that might shed light on the reasons behind this sudden market pessimism.