Energy giantConocoPhillips (COP) is up over 20 percent in the past year, nearly triple the return of the S&P 500. One trader sees shares trending higher in the months ahead. That’s based on the October $135 calls. With 70 days until expiration, 8,312 contracts traded compared to a prior open interest of 140, for a 59-fold rise in volume on the trade. The buyer of the calls paid $0.65 to make the bullish bet. Shares recently traded around $116, so they would need to rise about $19, or just over 16 percent, for the option to move in-the-money. The strike price of the option is clos...

E-commerce platform companyShopify (SHOP) has soared nearly 60 percent in the past year. One trader sees a further rally ahead for shares in the next seven months. That’s based on the March 2024 $70 calls. With 217 days until expiration, 11,583 contracts traded compared to a prior open interest of 171, for a 68-fold rise in volume on the trade. The buyer of the calls paid $4.90 to make the bullish bet. Shares recently traded for about $56, so they would need to rise $14, or 25 percent, for the options to move in-the-money. That would also mark a return to the stock’s 52-week high, hi...

Payment systems companyBlock (SQ) dropped following its earnings report last week. One trader sees shares rebounding in the coming months. That’s based on the December $50 calls. With 128 days until expiration, 16,004 contracts traded compared to a prior open interest of 193, for an 83-fold rise in volume on the trade. The buyer of the calls paid $17.00 to make the bullish bet. Shares last went for about $64, making the option about $14 in-the-money, and leaving only $3 in time premium. Block shares peaked near $80 before the earnings-driven selloff. If shares returned to that price,...

Semiconductor manufacturerIntel (INTC) has been rallying this year, after investors wrote off the company last year for hotter plays in the chip market. One trader is betting that shares will continue higher through next spring. That’s based on the March 2024 $41 calls. With 220 days until expiration, 7,143 contracts traded compared to a prior open interest of 229, for a 31-fold rise in volume on the trade. The buyer of the calls paid $2.11 to make the bullish bet. Shares recently traded for about $35. So they would need to rally another $6, or about 17 percent, in the coming months ...

Information technology consulting companyDXC Technology (DXC) sank nearly 30 percent last Thursday, as the company missed on earnings and cut guidance. One trader is betting on a further drop in the months ahead. That’s based on the January $15 puts. With 164 days until expiration, 4,710 contracts traded compared to a prior open interest of 110, for a 43-fold rise in volume on the trade. The buyer of the puts paid $0.87. Shares closed near $19 following the earnings drop, so shares would need to drop another $4, or just over 21 percent for the option to move in-the-money. The drop wo...

Coal producerPeabody Energy Corporation (BTU) has traded in a narrow range over the past year. While shares hit a low in May and have trended higher, one trader sees shares declining going into next year. That’s based on the January 2024 $16 puts. With 168 days until expiration, 14,242 contracts traded compared to a prior open interest of 122, for a massive 117-fold increase in volume on the trade. The buyer of the puts paid $0.59. Shares recently traded just under $22, so the stock would need to drop $6, or about 27 percent, for the option to move in-the-money. The $16 strike price ...

Mortgage REITAGNC Investment Corp (AGNC) has dropped slightly so far this year, as interest rates continue to rise. One trader expects shares to decline even further into next year. That’s based on the March 2024 $9 puts. With 225 days until expiration, 22,050 contracts traded compared to a prior open interest of 232, for a 95-fold jump in volume on the trade. The buyer of the puts paid $0.54 to make the bearish bet. Shares recently traded at $10, so they would need to drop $1, or 10 percent, in just over seven months. Such a move is possible, as mortgage REITs tend to be sensitiv...

Artificial intelligence software companyC3.ai (AI) has nearly quadrupled since the start of the year. one trader sees a short-term pullback in the coming weeks. That’s based on the September 15 $42.50 puts. With 44 days until expiration, 5,021 contracts traded compared to a prior open interest of 123, for a 33-fold rise in volume on the trade. The buyer of the calls paid $7.11 to make the bearish bet. Shares recently traded for about $42, making this an at-the-money option. The strike price is on the high end of the stock’s trading range over the past month, which has run between $36...

Chinese internet retailerAlibaba Group Holding (BABA) has been in an uptrend the past few months. One trader sees further upside in the weeks ahead. That’s based on the September 1 $115 calls. With 31 days until expiration, 13,146 contracts traded compared to a prior open interest of 106, for a massive 124-fold rise in volume on the trade. The buyer of the calls paid $1.82 to make the bullish bet. Shares recently traded for about $100, so they would need to see a 15 percent rally in the next month for the option to move in-the-money. That’s just barely within the stock’s 52-week rang...

Data center operatorApplied Digital Corporation (APLD) has moved up nearly five-fold from its 52-week lows. One trader is betting shares will continue to rise through the end of the year. That’s based on the January 2024 $11 calls. With 172 days until expiration, 6,902 contracts traded compared to a prior open interest of 127, for a 54-fold rise in volume on the trade. The buyer of the calls paid $2.80. Shares recently traded for just under $10, so the stock would need to rise another 10 percent for the option to move in-the-money. The strike price is also just under the stock’s 52-w...