Shares of casino operatorPenn Gaming (PENN) have been in a strong uptrend the past few months. Even with a slight pullback Monday, at least one trader sees shares continuing to trend higher. That’s based on the April 2021 $140 calls. With 66 days to expiration, over 9,700 contracts traded, a 51-fold rise in volume over the prior open interest of 190 contracts. Shares would need to rise about 15 percent from their current price of $122 for the trade to move in-the-money. The buyer of the options paid about $10.00 for the contract. Given the strong uptrend in shares, which are up nearl...

Shares of electric vehicle giantTesla Motors (TSLA) have flatlined in recent weeks. However, at least one trader sees a massive potential move higher in shares, or a way to profit from the current sideways trend. That’s based on the April 2021 $800 and the April 2021 $850 call options. Over 46,000 contracts traded at the $800 strike price, a 110-fold rise in volume. The $850 calls saw a 34-fold rise in volume, also with over 46,000 contracts trading. Shares of Tesla rose to the $860 range on Friday, making both of these contracts in-the-money trade. It’s possible, given the similar v...

Shares ofBed Bath & Beyond (BBBY) were one of many companies caught up in the recent retail short squeeze. While shares have been volatile in recent days, at least one trader now sees shares as oversold, and likely to bounce higher. That’s based on the March 2021 $42 call options. With 42 days until expiration, over 8,060 options traded yesterday, a 52-fold rise from the prior interest of 166. With shares trading near $27, the share price would need to rise about 55 percent to move in-the-money. The buyer paid $0.59 for the options. Shares of the company were squeezed as high ...

Shares ofAurora Cannabis (ACB) have more than tripled since early November, as more states legalized marijuana, and as federal trends point towards lower enforcement, if not outright decriminalization. One trader sees a further move higher. The September 2021 $14 call option last saw a 23-fold rise in volume, going from 131 open trades to over 3,100. Expiring in 225 days, the option is the at-the-money trade, given that shares trade just under $14.00. The buyer of the option paid $4.63 to make the trade. At-the-money trades offer a lower percentage return than an out-of-the-money tra...

Enterprise data cloud platform firmCloudera (CLDR) has seen shares rally nearly 70 percent since early November. At least one trader sees shares continuing to head higher. That’s based on the August 2021 $17.50 call option. Over 16,400 contracts traded against a prior open interest of 143, for a 144-fold rise in volume. The call option is at-the-money, given the current price of $17.43. The trader paid $3.88 for the trade on average. The trade expires in 198 days. Shares are currently sitting at a 52-week high, although the company has traded as high as $23 per share since its IPO in...

Aluminum mining and production firmFerroglobe PLC (GSM) has seen a large surge higher in shares in recent weeks, with the small-cap company more than doubling. At least one trader sees the trend continuing. That’s based on the September 2021 $2.00 calls. With shares near $2.40, the trade is already well in-the-money. Over 3,900 contracts traded against a prior open interest of 104, for a 38-fold rise in volume. The trader paid about $1.23 for the contracts on average. Shares would thus need to trade near $3.25 at expiration to profit. The stock has been on a tear lately, with a 50% r...

Pharmaceutical chainWalgreens Boots Alliance (WBA) has been in a strong uptrend for months. Shares spiked higher last week before starting to decline, but at least one trader sees shares continuing to trend higher. That’s based on the March 2021 $57.50 calls. With 46 days left until expiration, over 17,470 contracts traded, a 34-fold rise in volume from the prior open interest near 500. The buyer of the contracts paid about $1.02 on average. With shares around $50, the price will need to rally about 15 percent for shares to move in-the-money. Despite the strong rally in the past f...

Oil and gas exploration companyContinental Resources (CLR) has seen shares soar in recent sessions, and is in a general uptrend. One trader sees the move continuing over the next few weeks. That’s based on the March 2021 $30 calls. With 49 days until expiration, over 7,300 contracts traded against a prior open interest of 148, for a 50-fold rise in volume on the trade. The trader paid about $1.30 for each contract. Shares trade around $22, so the option would require shares soar 36 percent higher to move in-the-money before expiration. The company still trades off its pre-pandemic hi...

Mobile data security firmBlackBerry (BB) has gotten caught up in the “meme stock” rally of 2021. At least one trader sees shares capable of doubling yet again from here in the next year. That’s based on the January 2022 $40 call. Nearly a clean double with shares near $22, the option expires in 358 days. Over 6,600 contracts traded against a prior open interest of 465, a 14-fold rise in volume. The trader paid about $11.35 for the contracts. Shares started the year closer to $7, and have already tripled. The company has been restructuring and pivoting from its old business model of s...

Discount retailer giantThe TJX Companies Inc (TJX), parent company of HomeGoods, T.J. Maxx, and others, has seen shares decline rapidly over the past few sessions. However, one trader sees shares moving higher in the next 51 days. That’s based on the March 2021 $72.50 call options. Over 21,500 contracts traded against a prior open interest of 262, for an 82-fold rise in volume. The buyer paid about $1.44 for the contracts on average. Shares traded near $72.50 before their recent selloff of the past few weeks. Now trading near $65, shares would need to rally about 11.5 percent for the...