Yiheng Capital Management, L.P. exited its put option position in Planet Fitness, selling 270,000 shares worth $29,443,500 in the quarter ending September 30, 2025, as reported in an SEC filing on November 14, 2025. Planet Fitness shares were priced at $107.11 as of November 13, 2025, up 10.62% over the past year. Yiheng commonly holds stock options along with stocks, with four of its 27 holdings consisting of options in the third quarter of 2025. The exit from Planet Fitness aligns with a broader downsizing, as total fund AUM dropped 39% quarter-over-quarter.

Planet Fitness operates fitness centers with a franchise-driven model, offering affordable memberships and equipment sales. Yiheng Capital’s exit from the put option position in Planet Fitness came as the stock price fell modestly in the third quarter. Put options give the right to sell a stock at a fixed price, but can lose value if the stock does not move significantly. Yiheng Capital’s exit from Planet Fitness appears to be a strategic choice given market conditions.

Read more at Yahoo Finance: Yiheng Capital Dumps 270,000 Planet Fitness Shares Worth $29.4 Million