Media giantViacom CBS (VIAC) saw shares drop nearly two-thirds during the pandemic. Now largely recovered, at least one trader is betting on a renewed decline. That’s based on the March 2021 $35 puts. Nearly 14,000 contracts traded against a prior open interest of 254, for a 54-fold rise in volume. The options are also about $3 in-the-money, given the current share price of $32. The option buyer paid about $5.15 per contract. Shares of the company have been trading for less than a year, following the merger of Viacom and CBS. Even with that limited trading history, the company trades...

Communications firmDish Network Corporation (DISH) saw a steep decline in shares from September into early November. Now a powerful rally is underway, and one trader sees it continuing. That’s based on the March 2021 $35 call options. Expiring in 123 days, the options are a bet that shares will rally at least another 10-15 percent. Over 12,550 contracts traded against a prior open interest of just under 400, for a 32-fold rise in volume. The trader paid about $3.08 for the options, so shares would need to rally closer to $38 at expiration to make the trader money. That’s near the sto...

Cannabis firmTilray (TLRY) has seen shares soar since the election, following a new slew of states that legalized recreational use of the drug. However, the rally has proved short-lived, and is already coming back down. One trader sees a further decline. That’s based on the March 2021 $4 put on shares. 10,000 contracts traded hands on these puts, against a prior open interest of 330, for a 33-fold rise in volume. The option buyer paid $0.59 on average. The option expires in 126 days. Typically, cannabis stocks have rallied following an election where many states have legalized the dr...

Pharmaceutical giantPfizer (PFE) soared higher this week on news of a Covid-19 vaccine. However, that rally may not be over. One trader is betting on a move higher in the next month. The December 4th $41.50 calls saw over 12,570 contracts trade hands, compared to an open interest of 360. That’s a nearly 35-fold rise in volume on the contracts. The option buyer paid about $0.42 for the contract, which expires in 22 days. Shares currently trade around $38, so shares would need to rise about 9 percent for the option to move in-the-money.Action to take: While Pfizer shares soared Monday ...

Plant-based food companyBeyond Meat (BYND) saw shares sink nearly 25 percent in intraday trading following a lackluster earnings report. But traders see a likely rebound ahead. That’s based on the activity in the January 2023 $120 calls. Over 1,035 contracts traded against a prior open interest of 107 contracts, for a nearly ten-fold surge in volume. The trade expires in 800 days, and the buyer paid about $45.50 per contract. With shares trading just over $120, the option is slightly in-the-money. So while expensive, it should move dollar-for-dollar higher with shares. At one-third t...

Theater chains rallied on a potential Covid vaccine, withIMAX Corporation (IMAX) up a staggering 25 percent. But at least one trader sees a further rally ahead. The December 18th 2020 $15 call options saw over 25,260 contracts trade on Monday. That’s a 46-fold surge from the open interest of 544 contracts. Expiring in 38 days, the contracts cost the trader about $0.80 each. Monday’s surge in shares moved the price to just under $15, making this option the at-the-money trade. Even with Monday’s surge, shares are still down about 45 percent over the past year. Many movie theater chains...

A move higher in global banking giantCredit Suisse Group (CS) appears likely, given the rise in the March 2021 $11 calls. On Friday, over 5,100 contracts traded hands against a prior open interest of 153, for a 33-fold rise in volume. The bet expires in 130 days. With shares at $10.65, the company needs to move about 4 percent higher for the option trade to move in-the-money. The trader paid about $0.75 for the option. Shares of the bank have jumped in the past week, but have largely been range-bound over the past few months. Over the past year, shares of the bank are down nearly ...

At least one trader sees the potential for telecom companyAltice USA (ATUS) to surge in the next year. That’s based on the large volume in the January 2022 $35 calls. Expiring in 441 days, the options will move in-the-money on a 19 percent rally higher in shares. Over 2,500 contacts traded against a prior open interest of 157, making for a 16-fold rise in volume. The trader paid $2.20 for the contract on average. Shares of the stock are already near a 52-week high, and have rallied nearly 12 percent in the past week. The options bet is a bet that the recent move higher will continue ...

At least one trader sees a huge rally ahead forAlibaba (BABA) following Monday’s drop. That’s based on the 15,017 contracts that traded on the October 2021 $380 call option. Against a prior open interest of 173 contracts, it’s a staggering 87-fold surge in volume. The option has nearly a year to expire. Based on the current share price near $297, shares would need to rally 30 percent higher for the option to move in-the-money. Shares of Alibaba dropped on Monday as China pulled the IPO of Jack Ma’s other company, Ant Group. Alibaba is an internet retailer in China akin to Amazon. Eve...

At least one trader sees a massive surge higher in shares ofGeneral Electric (GE) this month. That’s based on the December 11th $8.50 calls. The option saw 956 contracts trade against a prior open interest of 107, for a nearly ten-fold rise in volume. With shares around $7.70, shares would need to rally about 10 percent for the trade to move in-the-money. The call buyer paid about $0.26 for the option. General Electric shares have been in rally mode in the past few weeks, following a strong earnings beat. That was a bit surprising, as the company’s jet engine division was expected to...