Rare earth explorer and producer MP Materials (MP) has been on a tear, with shares continuing to hit new 52-week highs. One trader sees further upside in the weeks ahead. That’s based on the May $31 calls. With 28 days until expiration, 3,228 contracts traded compared to a prior open interest of 154, for a 21-fold rise in volume on the trade. The buyer of the calls paid $1.85 to make the bullish bet. MP Materials shares just traded right under $28, so shares would need to rally another $3, or about 11%, for the options to move in-the-money. Since last summer, shares have had a strong...

Regional bank KeyCorp (KEY) has traded flat over the past year, with shares recently sliding over 20% from their 52-week highs. One trader sees further downside in the weeks ahead. That’s based on the May $12 puts. With 29 days until expiration, 32,986 contracts traded, a massive 244-fold increase in open interest from the prior volume of 135 contracts. The buyer of the puts paid $0.18 to make the bearish bet. KeyCorp recently traded for about $14, so shares would need to decline by $2, or 15%, for the option to move in-the-money. The strike price of the option is just under Keycorp’...

Search engine and tech giant Google (GOOGL) is now up less than 5% over the past year, following the recent market weakness. One trader sees shares making up for lost ground and rallying over the summer. That’s based on the October $215 calls. With 184 days until expiration, 14,133 contracts traded compared to a prior open interest of 282, for a 50-fold rise in volume on the trade. The buyer of the calls paid $1.56 to make the bullish bet. Google shares recently traded for about $160, so shares would need to rise by $55, or about 34%. The strike price is just over Google’s 52-week hi...

Gold exploration and production company Newmont Mining (NEM) has soared over 40% in the past year thanks to the strong performance of gold. One trader sees further gains going out into 2027. That’s based on the January 2027 $65 calls. With 640 days until expiration, 24,899 contracts traded, a 97-fold increase over the prior open interest of 257. The buyer of the calls paid $9.00 to make the bullish bet. Newmont recently traded for about $55, so shares would need to rally by $10, or about 18%, for the option to move in-the-money. The strike price is well over Newmont’s 52-week high of...

Wall Street megabank Citigroup (C) has been hit hard with the rest of the market in recent weeks, with the stock down 30% from recent highs. One trader sees further downside in the coming weeks. That’s based on the May $57.50 puts. With 32 days until expiration, 4,803 contracts traded compared to a prior open interest of 134, for a 36-fold rise in volume on the trade. The buyer of the puts paid $2.86 to make the bearish bet. Citigroup recently traded for about $60, meaning shares would need to decline by $2.50, or about 4%, for the option to move in-the-money. The strike price of the...

Offshore oil rig operator Transocean (RIG) is down 65% over the past year, given the high costs of operating offshore and a continued decline in energy prices. One trader sees further weakness into 2027. That’s based on the January 2027 $2 puts. With 644 days until expiration, 14,184 contracts traded compared to prior open interest of 144, for a 99-fold rise in volume on the trade. The buyer of the puts paid $0.63 to make the bearish bet. Transocean shares recently traded by about $2.40, so the stock would ed to decline by $0.40, or 17%, for the options to move in-the-money. Transoce...

Oil and gas exploration company Antero Resources (AR) is up 13% over the past year, bucking the energy sector’s decline as a whole. However, amid the tariff uncertainty, one trader sees further downside in the weeks ahead. That’s based on the May $25 puts. 21,670 contracts recently traded compared to a prior open interest of 123 contracts, for a massive 176-fold rise in volume on the trade. The options have 36 days left until expiration, and recently traded for about $0.80. Antero shares recently traded for about $31.50, so shares would need to decline by about $5.50, or about 20%, f...

Chemical manufacturer Dow Inc. (DOW) is down over 50% in the past year. One trader is betting on a rebound by the end of 2025. That’s based on the January 2026 $25 calls. The option has 282 days until expiration, and just saw a 31-fold rise in trading volume from 100 contracts to 3,067. The buyer of the calls paid $5.13 to make the bullish bet. Dow recently traded for about $27, making the trade about $2.00 in-the-money. Shares recently fell with the rest of the market, hitting a new 52-week low of $26.33. Chemical production typically follows the path of the physical economy. Ove...

Asset manager Blue Owl Capital (OWL) is down 7% over the past year, with share sinking with the overall market. One trader is betting on a further move lower in the coming weeks. That’s based on the May 2025 $16 puts. 15,051 contracts recently traded hands, a massive 87-fold rise over the prior open interest of 172 contracts. The option has 38 days until expiration, and the buyer of the puts paid $1.70 to make the bearish bet. Blue Owl shares recently traded for about $16 after their recent selloff, making this an at-the-money trade. Shares have now given up their gains over the past...

Sports apparel giant Nike (NKE) slid nearly 14% following the announcement of new tariffs that would impact their sales. One trader sees further weakness in shares ahead. That’s based on the July $45 puts. 5,024 contracts traded compared to a prior open interest of 102, from a 50-fold rise in volume on the options trade, which has 102 days left until expiration. The buyer of the puts paid $1.05 to make the bearish bet. Nike shares recently traded for about $56, so for the options to move in-the-money, shares would need to drop by another $11, or 20%. The recent drop in Nike shares ha...