Options traders piled into protective puts on HIG overnight. Put/call ratio spiked to 0.82, nearly triple its 20-day average, signaling defensive positioning ahead of today's Q1 print.
Short interest stands at 1.9% of float as of April 22. Shorts reduced exposure 22% over the past month, trimming positions from 6.8 million shares in mid-March to 5.3 million currently. The pullback accelerated in late March, with the largest single-day retreat occurring March 23. Days to cover sits at 3.6, indicating minimal squeeze risk. Cost to borrow has declined 27% over the past month to just 0.31%, reflecting ample availability and low demand for new short positions.
Put/call ratio hit 0.82 yesterday, the highest level since late March. The spike stands 2.8 standard deviations above the recent mean of 0.36. Traders have favored calls consistently over the past month, with PCR hovering near 0.25–0.30, before the abrupt shift this week. The defensive tilt suggests hedging activity or bearish bets concentrated in the final sessions before the report. Options activity shows no unusual patterns beyond the recent put surge.
Hartford last reported on January 30, following an announcement in early January. The company also filed an updated earnings date on April 23, just 24 hours before today's event. No reaction data from prior prints is available in the snapshot, limiting direct historical comparison. The stock has gained 3.1% over the past month and sits at $139.61, up 1.1% yesterday.
No active ORTEX Alpha signals are present. The short score sits at 33.2, reflecting below-average short-side pressure. Utilization remains minimal at 1.45%, well below the 52-week high of 3.03%.
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