Casino and resort operator MGM Resorts International (MGM) is down 33% over the past year on fears of a consumer slowdown in travel and tourism. One trader sees further downside in the months ahead. That’s based on the September $26 puts. With 168 days until expiration, volume just jumped 50-fold, from 145 contracts to 7,200. The buyer of the puts paid $1.33 to make the bearish bet. MGM shares recently traded for about $31, so shares would need to drop by $5, or about 16%, for the option to move in-the-money. The stock recently hit a new 52-week low of $28.63. Given the rate of sh...

Media giant Paramount Global (PARA) has traded flat over the past year, largely trading in a range. Shares are now at the higher end of their range, and one trader is betting on a move lower. That’s based on the September $10 puts. With 169 days until expiration, 10,762 contracts traded compared to a prior open interest of 315, for a 34-fold rise in volume on the trade. The buyer of the puts paid $1.25 to make the bearish bet. Paramount shares recently traded for just under $12, so shares would need to drop by $2, or about 17%, for the option to move in-the-money. The $10 strike pric...

Home security solutions provider ADT (ADT) is up nearly 25% over the past year, nearly four times the return of the S&P 500 over the same period. One trader sees shares taking a breather in the weeks ahead. That’s based on the May $8 puts. With 44 days until expiration, 14,777 contracts traded compared to a prior open interest of 459, for a 32-fold rise in volume on the trade. The buyer of the puts paid $0.40 to make the bearish bet. ADT shares recently traded for about $8.10, making this an at-the-money trade. The stock has been trending higher in recent months, and is just off ...

Silver mining firm First Majestic Silver (AG) is up 12% over the past 12 months, slightly edging out the overall stock market. One trader sees shares trending higher over the coming weeks. That’s based on the May 2 $8 calls. With 31 days until expiration, 4,000 contracts traded compared to a prior open interest of 104, for a 38-fold rise in volume on the trade. The buyer of the calls paid $0.14 to make the bullish bet. First Majestic shares recently traded for about $6.75, so shares would need to rally by $1.25, or 18.5%, for the option to move in-the-money. The strike price is right...

Retail game outlet GameStop (GME) has been on a wild ride recently, with shares soaring following a massive earning beat, before a selloff amid a plan to acquire bitcoin. One trader sees further weakness ahead. That’s based on the May $20 puts. With 46 days until expiration, 15,602 contracts traded compared to a prior open interest of 406, for a 38-fold rise in volume on the trade. The buyer of the puts paid $1.80 to make the bearish bet. GameStop shares traded for about $22, so shares would need to drop by $2, or just over 9%, for the option to move in-the-money. That’s still about ...

Solar panel manufacturer First Solar (FSLR) is down 18% over the past year, and shares just broke to a new 52-week low. One trader sees further weakness into 2027. That’s based on the January 2027 $120 puts. With 658 days until expiration, 7,626 contracts traded compared to a prior open interest of 100, for a 76-fold rise in volume on the trade. The buyer of the puts paid $26.70 to make the bearish bet. First Solar recently traded for about $126.50, so shares would need to decline by about $6.50, or just 5%, for the option to move in-the-money. Shares have just broken to a new 52-...

Retailer Walmart (WMT) has slid 13% in the past month, as consumer spending has shown signs of slowing and amid fears of rising prices of goods via tariffs. One trader sees further weakness ahead. That’s based on the May $77.50 puts. With 50 days until expiration, 6,629 contracts traded compared to a prior open interest of 132, for a 50-fold rise in volume on the trade. The buyer of the puts paid $1.02 to make the bullish bet. Walmart shares recently traded for about $85, so shares would need to fall by $7.50, or 8.8%, for the option to move in-the-money. The strike price of the o...

China-based EV manufacturer XPeng (XPEV) is up over 150% in the past year as EV sales have exploded in China. One trader is betting on a pullback in the months ahead. That’s based on the July $19 puts. With 114 days until expiration, 12,160 contracts traded compared to a prior open interest of 194, for a 63-fold rise in volume on the trade. The buyer of the puts paid $1.98 to make the bearish bet. XPeng shares recently traded for about $21.25, so shares would need to decline by about $2.25, or about 10.6% for the option to move in-the-money. XPeng shares have already started coming d...

Tech giant Amazon (AMZN), is down 10% year-to-date as tech stocks have taken the brunt of the recent market selloff. One trader sees further potential downside into the autumn. That’s based on the September $75 puts. With 178 days until expiration, 5,024 contracts traded compared to a prior open interest of 100, for a 50-fold rise in volume on the trade. The buyer of the puts paid $0.15 to make the bearish bet. Amazon shares recently traded for about $195, so the stock would need to drop by $120, or over 70%, for the options to move in-the-money. Given that Amazon’s 52-week low is $1...

Online betting site DraftKings (DKNG) is down 20% over the past year, as the company has failed to translate its growing earnings into a profit. One trader sees shares trending higher in the months ahead. That’s based on the August $52.50 calls. With 144 days until expiration, 41,144 contracts traded compared to a prior open interest of 140, for a massive 294-fold rise in volume on the trade. The buyer of the calls paid $1.15 to make the bullish bet. DraftKings shares recently traded for about $39, so the stock would need to rise by $13.50, or about 34.6%, for the option to move in-t...