Pharmaceutical companyBausch Health Companies (BHC) has dropped nearly 40 percent over the past year. One trader sees a further decline in the coming months. That’s based on the July $8 puts. With 63 days until expiration, 10,001 contracts traded compared to a prior open interest of 121, for an 83-fold jump in volume on the trade. The buyer of the puts paid $1.08 to make the bearish bet. Shares recently went for about $7.50, so the options are already about $0.50 in-the-money. The strike price is still well over the stock’s 52-week low of $4.00. The company has struggled with prof...

AutomakerFord Motor Company (F) has seen shares decline about 15 percent over the past year. One trader sees a further decline ahead. That’s based on the June 9 $11 puts. With 21 days until expiration, 14,140 contracts traded compared to a prior open interest of 495, for a 29-fold rise in volume on the trade. The buyer of the puts paid $0.28 to make the bearish bet. Shares recently went for just over $11, making this an at-the-money trade. Shares are close to their 52-week low of $10.61, and over the past year the stock has tended to bounce higher after dropping to the low $11 range....

ToymakerHasbro (HAS) has seen its shares drop nearly one-third over the past year. While the stock has rallied in recent weeks, one trader sees a further decline ahead. That’s based on the August $55 puts. With 93 days until expiration, 4,008 contracts traded compared to a prior open interest of 108, for a 37-fold rise in volume on the trade. The buyer of the puts paid $1.73 to make the bearish bet. Shares recently traded for about $62.50, so the stock would need to drop about 12 percent in the coming months for the option to move in-the-money. The $55 strike price is well over the s...

Paper materials companyMercer International (MERC) is down nearly 40 percent over the past year. One trader is betting on a sharp rebound in the coming months. That’s based on the August $12.50 calls. With 94 days until expiration, 22,725 contracts traded compared to a prior open interest of 146, for a 156-fold rise in volume on the trade. The buyer of the calls paid $0.15 to make the bullish bet. Shares recently traded for about $9, so they would need to rise $3.50, or about 39 percent, for the option to move in-the-money. The strike price is fairly reasonable given the stock’s 52-w...

Search engine giantGoogle (GOOGL) popped higher last week following an announcement on the company’s investments in artificial intelligence. One trader is betting that shares will come down following the news. That’s based on the July $120 puts. With 67 days until expiration, 16,784 contracts traded compared to a prior open interest of 187, for a 90-fold jump in volume on the trade. The buyer of the puts paid $6.75 to make the bearish bet. Shares recently traded for about $117, so the option is already about $3.00 in-the-money. The jump higher also took shares close to their 52-week ...

Digital payment platformPayPal (PYPL) is down about 12 percent over the past year, although shares have been trending higher in the past few months. One trader sees that trend continuing in the coming weeks. That’s based on the June 23 $75 calls. With 42 days until expiration, 4,065 contracts traded compared to a prior open interest of 116, for a 35-fold rise in volume on the trade. The buyer of the calls paid $0.36 to make the bullish bet. Shares recently traded for about $63.50 following an earnings-report drop. From here, shares would need to rise about 18 percent in about six wee...

Artificial intelligence software companyC3.ai (AI) has had a strong year, with shares up nearly 29 percent as interest in the space has exploded higher. One trader sees shares moving lower in the weeks ahead as that interest potentially wanes. That’s based on the June $25 puts. With 36 days until expiration, 13,509 contracts traded compared to a prior open interest of 342, for a 40-fold rise in volume on the trade. The buyer of the puts paid $6.31. Shares recently traded for just under $20, putting the options about $5 in-the-money. Shares are well off their 52-week high of $34.68. ...

Cybersecurity software companyRapid7 Inc (RPD) has seen shares rally more than 50 percent off of their lows set back in November. One trader sees a further rally in the months ahead. That’s based on the August $55 calls. With 100 days until expiration, 5,327 contracts traded compared to a prior open interest of 191, for a 28-fold rise in volume on the trade. The buyer of the calls paid $5.67 to make the bullish bet. Shares recently went for about $47, so they would need to rise $8, or about 17 percent, for the option to move in-the-money. The $55 strike price of the options is still ...

Financial technology software companyStoneCo (STNE) is up about 50 percent over the past year. However, one trader sees the potential for a big selloff by the end of the year. That’s based on the January 2024 $8 puts. With 255 days until expiration, 10,027 contracts traded compared to a prior open interest of 101, for a 99-fold jump in volume on the trade. The buyer of the puts paid $0.58 to make the bearish bet. The bet comes as shares have hit a 52-week high, and are up over 70 percent in the past month. StoneCo provides digital financial services in Brazil, but is based out the...

Biotech companyGilead Sciences (GILD) has had a strong year, with shares up 30 percent. However, shares have started to trend lower in recent sessions, and one trader sees a further drop ahead. That’s based on the November $60 puts. With 193 days until expiration, 3,922 contracts traded compared to a prior open interest of 100, for a 39-fold rise in volume on the trade. The buyer of the puts paid $1.09 to make the bearish bet. Shares recently went for about $78.50, so they would need to drop $18.50, or about 25 percent, for the option to move in-the-money. That price would also be cl...