Grab closed at USD 3.13, up 0.64%, after trading between USD 3.12 and USD 3.22 with turnover of 63.16 million shares.

Large options trades in Grab pointed clearly bullish, led by a $82,500 net-debit put calendar spread and a $121,500 sale of long-dated $3 puts. Both structures centered on the $3.00 strike, signaling institutional conviction that the stock holds above this level. The flow was one-sided with no notable bearish counterweight.

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Options Indicators

Grab’s implied volatility stands at 65.06%, and with an IV percentile of 61.75%, its current volatility sits in a neutral historical range rather than at an extreme. At the same time, the IV/HV ratio of 1.25 shows implied volatility is running above realized volatility, suggesting the options market is pricing in somewhat richer forward uncertainty, but not to a level that would classify contracts as outright expensive. The Call/Put volume ratio is 1.28.

Large Trades

A bullish put spread with a net debit of $82,500 was the largest featured structure, built by buying 7,500 November 20, 2026 $3.00 puts and selling 7,500 October 16, 2026 $3.00 puts. Both legs were out of the money versus the $3.13 spot reference, and because this is a same-strike, different-expiration put combination, it is best read as a bullish calendar-style put spread rather than a synthetic position. The trade was established for a net debit, pointing to a directional bet that Grab stays above the $3.00 level over time while also expressing a view on the relative value between the two expiries, with the long-dated put purchase partially financed by the short-dated put sale.

A short put sale worth $121,500 was the other highlighted large trade, with 1,500 contracts sold in the December 15, 2028 $3.00 put. This strike also sat out of the money against the $3.13 reference price, making the position a bullish premium-collection trade that benefits if Grab remains above $3.00 through expiration. The willingness to sell long-dated downside exposure suggests confidence in the stock’s floor near current levels and a preference to earn premium rather than pay for upside optionality. Overall, the large-trade flow was clearly bullish, with every meaningful block leaning constructive and no notable bearish counterweight, indicating institutional positioning that expects Grab to hold above key downside strikes and trade with stable-to-improving sentiment over time.

Strategy Reference

For traders seeking a defined-risk bullish position with lower margin requirements than selling a long-dated put outright, a bull put spread such as selling the October 16, 2026 $3.00 put and buying a lower-strike put in the same expiration offers a way to collect premium while capping risk, though assignment probability on the $3.00 short strike remains low given the heavy institutional accumulation at that level.