RTX Options Traders Bet Big on Downside With $1.2M Put Contract Deep in the Money

May 18, 2026

By TrendSpider Editor

RTX market update based on latest unusual_options data.

RTX Options Traders Bet Big on Downside With $1.2M Put Contract Deep in the Money

RTX Corporation is drawing attention in the options market after a single unusual put contract worth $1,207,500 in premium landed on the tape, flagging a notable bearish positioning in the defense and aerospace giant. The stock is currently trading at $175.98, up 2.86% on the session, yet the options flow tells a more cautious story. That price sits in the lower half of RTX's 52-week range of $127.39 to $214.50, leaving significant distance from its prior highs.

Key Drivers of the RTX Stock Move

Main Catalyst: A single put contract at the $190 strike expiring January 15, 2027 printed with a size of 500 contracts and $1,207,500 in total premium. The contract is currently in the money, with the $190 strike sitting above the current price of $175.98, and open interest utilization stands at 61%.
Bull Case: Despite the bearish options flow, RTX shares are showing intraday strength with a 2.86% gain on the session. The stock remains well above its 52-week low of $127.39, suggesting underlying demand and a meaningful recovery off the bottom of its annual range.
Bear Case: The $190 put is in the money and carries $1,207,500 in premium, representing a high-conviction directional bet that RTX will remain below $190 through January 2027. A single contract of this size with 61% open interest utilization suggests this is not a routine hedge, but a deliberate short-side position by a well-capitalized trader.

The forward setup for RTX is worth watching closely as the calendar moves deeper into 2026. The January 2027 expiry gives the options buyer over seven months for the thesis to play out, suggesting the trader is positioned for either continued underperformance relative to the $190 level or a broader deterioration in the stock. RTX operates across defense, aerospace, and intelligence segments, and any shifts in government defense spending, contract awards, or macroeconomic conditions in the back half of 2026 could be the catalysts this position is anticipating.

RTX Unusual Options Activity

Type: Put | Strike: $190 | Expiry: January 15, 2027 | Volume (Size): 500 contracts | Open Interest Utilization: 61% | Status: In the Money

This is the sole unusual contract flagged in today's session, with a total of 1 unusual contract recorded. The entire $1,207,500 in total options premium activity for RTX today flows through this single put position, making it a clean and concentrated expression of bearish intent rather than scattered hedging activity.

RTX Seasonality

Mid-May through early summer has historically been a transitional period for defense sector stocks, as the federal budget outlook, congressional appropriations activity, and earnings guidance cycles tend to drive positioning. A January 2027 expiry suggests the buyer is looking past near-term catalysts and positioning for a multi-quarter thesis.

RTX Relative Performance

RTX is outperforming on the session with a gain of 2.86%, pushing its current price to $175.98. However, the stock remains roughly 18% below its 52-week high of $214.50, underscoring that even with today's strength, RTX has significant ground to recover relative to where it traded at its best point over the past year. The bearish options flow adds a layer of skepticism about whether that recovery will materialize within the next several months.