Cloud-based software giantSnowflake (SNOW) has seen shares drop over 40 percent from their peak in early December. One trader sees a potential move higher from here. That’s based on the April $250 calls. With shares around $240, it would take a $10 move higher for the trade to move in-the-money. Over 7,600 contracts traded, a 57-fold rise from the open volume of 134. The buyer paid about $17.05 for the contract. Shares of the company went public in September. Since inception, shares have traded as low as $208 and as high as $429, making the current price near the low end of the st...

Tech stocks have gone into full meltdown mode in the past week. That’s created some huge bargains as many names have given up year-to-date gains… or even further back. One trader sees a rebound in shares ofAdvance Micro Devices (AMD) by May. The activity is in the $92.50 calls. Over 7,500 contracts traded recently, a 45-fold jump in volume from the prior open interest near 166. The buyer paid about $2.20 to make the trade on average. The $92.50 strike would put shares near its all-time high of $99 per share by the time the trade expired in just over two months. With shares diving und...

Brazilian fintech companyPagSeguro (PAGS) has a healthy long-term chart, moving higher with some sharp, but quickly recovered, drops along the way. Following the recent market weakness, one trader is betting on a move higher with the January 2022 $65 calls. That’s about $10 per share higher from the current price near $65. Over 10,100 contracts traded, a 34-fold rise in volume from the prior open interest of 299. The buyer paid about $9.10 on average. Shares have had a sizeable correction over the past few days as tech, particularly software companies, have gotten hammered. With 322 ...

At least one trader is leaning hard into the “reopening” theme for the economy with a large bet onHilton Worldwide Holdings (HLT). That’s based on the January 2022 $140 calls. With shares at $124, shares would need to rally about 13 percent for the option to move in-the-money. Over 3,000 of the contracts traded compared to an open interest of 127, for a 24-fold rise in volume. The trader paid about $11.20 for the options on average. The company is coming off of one of its worst years in history, with a 60 percent drop in revenue. Despite that, shares have moved higher, and have now d...

Cannabis stocks surged in the first half of February, but sank in the second half of the month. At least one trader still sees an uptrend in the space, however. That’s based on the April $15 calls onAurora Cannabis (ACB). Shares would need to move 27 percent higher for the trade to move in-the-money, suggesting a big move here. Over 6,475 options traded against a prior interest of 405, for a 16-fold rise in volume. The trade, expiring in 44 days, cost the trader about $1.04. Shares of the cannabis producer are down about 30 percent over the past year. However, shares have surged i...

China-based internet technology companyNetEase (NTES) has corrected a bit in recent sessions along with the rest of the tech space. However, at least one trader sees a potential for a move higher. That’s based on the September $120 calls. Over 5,475 contracts traded, a 45-fold rise in volume from the prior open interest of 122 contracts. With 199 days to trade, the option will move in-the-money if shares rise just $10 from the current price near $110. The buyer paid about $10.60 for the contract. Before the recent selloff, shares had traded as high as $134. Shares are in a longer-ter...

Software giantAdobe (ADBE) has been trading in a range for the past few months. The recent market weakness has sent shares towards the lower end of its range, as well as its 200-day moving average. At least one trader is betting that shares will bounce higher. That’s based on the June $420 call options. Over 5,010 contracts traded, a 36-fold rise from the prior open interest of 138. The option expires in 109 days. The trader paid about $61 for the options. As shares are currently around $462, the option is about $42 in-the-money already, accounting for a large chunk of the option’s p...

For-profit prison companyGeo Group (GEO) has seen shares trend down in recent weeks. The Biden administration is looking to get out of for-profit prison contracts, suggesting weakness ahead. But one trader sees a bounce first, if not a reversal higher. That’s based on the April $9 calls. With 49 days until expiration and shares just under $8, the stock price would need to move about 12 percent higher for the trade to move in-the-money. Over 12,950 contracts traded, a 43-fold rise in volume from the prior open interest near 302. The trader paid about $0.65 to make the trade. Shares...

Traders looking for market-beating opportunities outside the tech space have been increasingly attracted to energy. Gently-rising oil prices have been a rising tide for the sector. One play getting some attention? Services giantHalliburton (HAL). One trader likes the March 19th $23.50 call options, just $1.50 over the current price near $22. Over 9,850 contracts traded, a 61-fold rise in volume from the prior interest of 162. The buyer paid about $0.78 for the options, which expire in 22 days. Shares have recently broke past their pre-pandemic highs, and are in a strong uptrend fo...

Video game producerActivision Blizzard (ATVI) has fared well, as strong trends in the gaming industry have led to massive profits. At least one trader sees shares moving higher. That’s based on the May $95 call options. Over 2,700 contracts traded against a prior open interest of 153, for a 18-fold rise in volume on the trade. Expiring in 86 days, the trade is at-the-money, given that shares trade near $96. The buyer paid about $6.50 for the contracts on average. Shares of the video game company have come down in recent sessions along with the overall market. A near 10-percent dec...