Founder of Formula: Sold nearly $7 million in storage stock put options today, sector's bearish sentiment is nearing its limit

According to BlockBeats, on July 28, the founder of Equation News, Vida, stated on social media that nearly $7 million worth of put options on storage concept stocks were sold today, most of which will expire in one month.

The current downturn in the storage sector has almost reached its emotional limit; all top traders are lamenting that they did not expect such a market, and the implied volatility of storage stocks is now at a historical peak percentage-wise.

The AI revolution is still ongoing and demand remains; the fundamentals from a month ago have not changed, which means that essentially the same products are trading at a 35–50% discount compared to a month ago.