Traders Buy Large Volume of Put Options on AltC Acquisition (NYSE:ALCC)

AltC Acquisition Corp. (NYSE:ALCC) saw some unusual options trading on Friday. Investors purchased 11,539 put options on the stock. This is an increase of 315% compared to the average volume of 2,780 put options.

AltC Acquisition Stock Performance

ALCC traded down $0.20 on Friday, reaching $12.80. 1,590,565 shares of the stock were exchanged, compared to its average volume of 497,001. AltC Acquisition has a fifty-two week low of $10.24 and a fifty-two week high of $17.49. The company’s 50-day moving average price is $11.70 and its 200 day moving average price is $10.92.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Meteora Capital LLC grew its stake in shares of AltC Acquisition by 1,303.4% during the 3rd quarter. Meteora Capital LLC now owns 3,480,078 shares of the company’s stock worth $36,019,000 after purchasing an additional 3,232,095 shares during the period. MMCAP International Inc. SPC increased its holdings in AltC Acquisition by 80.8% in the third quarter. MMCAP International Inc. SPC now owns 1,084,669 shares of the company’s stock valued at $11,226,000 after buying an additional 484,669 shares in the last quarter. Readystate Asset Management LP acquired a new position in shares of AltC Acquisition in the fourth quarter worth about $3,735,000. Citigroup Inc. purchased a new stake in shares of AltC Acquisition during the 3rd quarter worth about $2,588,000. Finally, Levin Capital Strategies L.P. grew its position in shares of AltC Acquisition by 193.5% during the 3rd quarter. Levin Capital Strategies L.P. now owns 267,100 shares of the company’s stock valued at $2,764,000 after acquiring an additional 176,100 shares during the period. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

AltC Acquisition Company Profile

AltC Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or other business combination with one or more businesses. The company was formerly known as Churchill Capital Corp VIII and changed its name to AltC Acquisition Corp.