Nuclear technology stock Oklo Inc (NYSE:OKLO) is down 7.8% at $120.87 at last check, after Goldman Sachs initiated coverage with a "neutral" rating and $117 price target. The firm acknowledged the company's recent advancements in its Aurora Powerhouse, but pointed out risks associated with its "own-and-operate" model.
OKLO had been riding the AI wave higher, hitting a record high of $144.49 just last session. The stock is still up roughly 63.3% in the last month despite today's pullback, sporting a 464.7% year-to-date lead.
Options bears are chiming in, with 108,000 puts exchanged so far -- quadruple the intraday average -- in comparison to 47,000 puts. The weekly 9/26 100-strike put is the most popular option, followed by the 110-strike put in the same series, with new positions opening at both.
Puts have been more popular than usual leading up to today, too. OKLO's 10-day put/call volume ratio of 1.40 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) ranks higher than 87% of readings from the past year.
Amid today's sharp price drop, Oklo stock landed on the short sell restricted (SSR) list. Though short interest has begun to unwind, it still represents a hefty 14% of the stock's available float.
Data before today's rating adjustments showed eight of 15 analysts rating the stock a "buy" or better, six a "hold," and one a "strong sell," leaving plenty of room for changes in either direction.
