Oil and gas refining company CVR Energy (CVI) is down over 30% in the past year, far underperforming a rallying stock market. One trader sees shares trending lower over the coming weeks. That’s based on the October 18 $22.50 puts. With 39 days until expiration, 8,302 contracts traded compared to a prior open interest of 113, for a 73-fold rise in volume on the trade. The buyer of the puts paid $1.15 to make the bearish bet. CVR shares recently traded for about $23, so they would need to drop by $0.50, or just over 2%, for the option to move in-the-money. The stock has been trendin...
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