Oil and gas midstream companyMPLX LP (MPLX) is up 2 percent over the past year, slightly trending higher even as energy prices have been moving lower. One trader sees possible upside in the weeks ahead. That’s based on the June 16 $32 calls. With 42 days until expiration, 59,400 contracts traded compared to a prior open interest of 260, for a staggering 248-fold surge in volume on the trade. The buyer of the calls paid $2.65 to make the bullish bet. Shares recently traded for about $35, so the option is already about $3.00 in-the-money. That suggests that the buyer of the calls took ...

Healthcare services companyCardinal Health (CAH) has been trending higher in the past few months, and even recently set a new 52-week high. One trader sees shares pulling back by the start of next year. That’s based on the January 2024 $55 puts. With 260 days until expiration, 4,000 contracts traded compared to a prior open interest of 135, for a 30-fold rise in volume on the trade. The buyer of the puts paid $0.68 to make the bearish bet. Shares recently traded just over $82. So shares would need to lose $27, or fall by about one-third, by the end of the year for the options to move...

Hotel alternativeAirbnb (ABNB) has slid about 22 percent over the past year, but the stock is up over 50 percent from its lows in 2022. One trader sees a further decline ahead for the company. That’s based on the May 12 $115 puts. With 9 days until expiration, 5,369 contracts traded compared to a prior open interest of 112, for a 48-fold rise in volume on the trade. The buyer of the puts paid $2.89 to make the bearish bet. Airbnb next reports earnings on May 9, so this is likely a bet that shares will take a hit then. The stock recently traded for about $122, so Airbnb would need to ...

Regional bankPacWest Bancorp (PACW) was hit hard in March’s banking crisis. Shares are now down 67 percent over the past year. But one trader sees a long-term rebound ahead. That’s based on the January 2025 $10 calls. With 626 days until expiration, 5,135 contracts traded compared to a prior open interest of 100, for a 51-fold rise in volume on the trade. The buyer of the calls paid $4.05 to make the bullish bet. Shares recently traded slightly over $10, making this an at-the-money trade. With a 52-week high of $35, a move to that level by expiration would cause the options to rise i...

Ride share companyUber (UBER) is down about 5 percent over the past year. One trader sees a further move higher for shares in the coming months. That’s based on the August $42.50 calls. With 108 days until expiration, 3,540 contracts traded compared to a prior open interest of 108, for a 32-fold rise in volume on the trade. The buyer of the calls paid $0.28 to make the bullish bet. Shares recently went for about $30, so they’d need to rise about $12.50, or about 41 percent, for the option to move in-the-money. That’s a big move for shares, and would exceed the stock’s 52-week high...

Investment brokerage firmThe Charles Schwab Corporation (SCHW) has lost about a quarter of its value in the past year, as slowing trading has reduced revenues. One trader sees the potential for a further decline in shares in the weeks ahead. That’s based on the June 2 $40 puts. With 35 days until expiration, 12,066 contracts traded compared to a prior open interest of 216, for a 56-fold rise in volume on the trade. The buyer of the puts paid $0.32. Shares recently traded just around $50, so the stock would need to fall $10, or about 20 percent in just a few weeks. And they would need...

Cruise line operatorCarnival Cruise Lines (CCL) has been rangebound for several months after a big drop nearly a year ago. One trader sees shares trending lower in the coming weeks. That’s based on the May $8.50 puts. With 22 days until expiration, 5,310 contracts traded compared to a prior open interest of 100, for a 53-fold rise in volume on the trade. The buyer of the puts paid $0.31 to make the bearish bet. Shares recently traded for about $9, so they would need to fall about $0.50, or just under 5 percent, for the option to move in-the-money. Such a move could continue the cu...

Brazilian iron ore producerVale (VALE) is down 12 percent over the past year and 25 percent off its peak. One trader is betting that prices will fall further in the months ahead. That’s based on the July $14 puts. With 86 days until expiration, 6,721 contracts traded compared to a prior open interest of 211, for a 32-fold rise in volume on the trade. The buyer of the puts paid $0.88 to make the bearish bet. Shares recently traded for about $14.20, making this an at-the-money trade. The stock is down from its 52-week high of $19.31. The company’s operations have likewise slowed wit...

Business development companyHercules Technology Growth Capital (HTGC) has slid nearly 30 percent over the past year. One trader sees a similar drop occurring over the next few months. That’s based on the October $10 puts. With 178 days until expiration, 7,622 contracts traded compared to a prior open interest of 170, for a 45-fold rise in volume on the trade. The buyer of the puts paid $0.60 to make the bearish bet. Shares last went for about $13, so the stock would need to drop by $3, or about 25 percent, for the options to move in-the-money. That would also be below Hercules’ 52-we...

Drug manufacturerPfizer (PFE) has seen shares slide nearly 20 percent to 52-week lows in the past few months. One trader sees a longer-term rebound for shares ahead. That’s based on the December 2025 $40 calls. With 970 days until expiration, 2,009 contracts traded compared to a prior open interest of 116, for a 17-fold rise in volume on the trade. The buyer of the calls paid $5.58 to make the bullish bet. Shares traded just under $40, making this an at-the-money trade. If shares were to rally to their 52-week high near $55 per share, the $40 calls would be $15 in-the-money, or nearl...