$BNB
-260227-680-P (put option) experiencing an extremely sharp bullish move in premium, indicating strong downside expectation or panic hedging in the underlying BNB. The last price is 33.60, up +257%, after a sudden spike from the 17.20 area to 36.60, driven by a clear volume burst, which confirms aggressive buying rather than a slow grind. On the 30-minute timeframe, MA(7) ≈ 36.6 and MA(25) ≈ 35.0 are far above MA(99) ≈ 18.2, showing strong short-term momentum and a stretched move. However, price is now stalling near the highs (36–37 zone) with declining volume, suggesting profit-taking or consolidation rather than immediate continuation. The mark price (45.05) being significantly higher than last traded price also hints at volatility expansion and wide spreads, common after explosive option moves. Overall, momentum remains bullish for the put premium, but risk is elevated; a pullback toward 32–30 would be healthy, while sustained acceptance above 36.6 could open another volatility-driven leg higher.