Bumble Inc. (BMBL) shares plummeted 5.12% in Friday's trading session, underperforming the broader market. The decline came amidst heavy trading in put options on the stock, suggesting traders were positioning for further downside in the dating app company.
According to option data, 4,498 put contracts changed hands in Bumble on Friday, about twice the expected volume. The most actively traded were the February 2025 $6 and $5.50 strike puts, indicating bearish sentiment and expectations of further share price declines over the near term.
While the exact reasons behind the heightened put activity were not immediately clear, the bearish options positioning likely exacerbated selling pressure in Bumble shares during the session. The stock closed at $19.18, near its lows for the day.