Shares of consumer goods companyProcter & Gamble (PG) moved higher earlier this week on earnings, although the company did warn on the effect of a strong dollar. One trader sees that as bearish. That’s based on the January 2024 $80 puts. With 455 days until expiration, 5,002 contracts traded compared to a prior open interest of 214, for a 35-fold rise in volume on the trade. The buyer of the puts paid $1.78 to make the trade. Shares recently traded near $130, so they’d need to decline $50, or nearly 40 percent, for the option to move in-the-money. With the stock only down 9 perce...

Shares of oil and gas explorerSuncor Energy (SU) are up about 35 percent in the past year. One trader sees a short-term drop ahead for the stock. That’s based on the November $25 puts. With 29 days until expiration, 4,271 contracts traded compared to a prior open interest of 114, for a 37-fold rise in volume on the trade. The buyer of the puts paid $0.32 to bet on a decline in shares. The stock recently traded for about $31, so shares would need to drop over 20 percent for the option to move in-the-money in about a month. Shares hit a 52-week low just over $22 in late September, so s...

Shares of social media companySnap (SNAP) are down 86 percent over the past year. One trader sees room fur a further decline in the months ahead. That’s based on the March 17, 2023 $6 puts. With 149 days until expiration, 5,656 contracts traded compared to a prior open interest of 293, for a 19-fold rise in volume on the trade. The buyer of the puts paid $0.49 to make the bearish bet. Shares recently traded for over $10.50, so the stock would need to decline about 40 percent for the option to move in-the-money. With a 52-week low of $9.34, it would also mean a breakdown to new lows f...

Shares of tobacco product companyPhilip Morris International (PM) are down about 11 percent over the past year. One trader sees a rebound in the coming weeks. That’s based off of the November 18 $90 calls. With 31 days until expiration, 10,359 contracts traded compared to a prior open interest of 626, for a 17-fold rise in volume on the trade. The buyer of the calls paid $1.42 to make a bet on the option. Shares recently traded for just over $85, so they’d need to rise $5, or about 6 percent, for the option to move in-the-money. The stock hit a 52-week low at the end of September jus...

Shares of construction equipment manufacturerCaterpillar (CAT) have lost about 8 percent in the past year. One trader sees a rebound in shares in the coming months. That’s based on the December $195 calls. With 60 days until expiration, 6,818 contracts traded compared to a prior open interest of 333, for a 21-fold rise in volume on the trade. The buyer of the calls paid $6.88 to get into the trade. Caterpillar shares recently went for about $183, so they’d need to rise $12, or about 6.5 percent, for the options to move in-the-money. The stock has strongly come off a 52-week low near ...

Shares of financial giantBank of America (BAC) have lost nearly one-third of their value in the past year amid a slowing economy and rising interest rates. One trader sees a rebound in the weeks ahead. That’s based on the November 25 $32 calls. With 42 days until expiration, 5,841 contracts traded compared to a prior open interest of 106, for a 55-fold rise in volume on the trade. The buyer of the calls paid $0.99 to make the bullish bet. Shares recently traded around $30, and just a hair off their 52-week low. So they’d need to rise $2, or about 7 percent, for the option to move in-...

Shares of telecom companyAT&T (T) are down about 22 percent over the past year and have been sliding to new 52-week lows in recent sessions. One trader sees a rebound for shares in the coming weeks. That’s based on the November 18 $14 calls. With 36 days until expiration, 10,033 contracts traded compared to a prior open interest of 157, for a 64-fold rise in volume on the trade. The buyer of the calls paid $1.21 to make the bullish bet. The stock trades in the high $14 range, making this a slightly in-the-money call option. Shares are well off their 52-week highs of $21.53. Re...

Shares of consumer tech giantApple (AAPL) are now about flat over the past year. One trader sees a bump higher in the coming weeks. That’s based on the October 28 $139 calls. With 16 days until expiration, 9,076 contracts traded compared to a prior open interest of 268, for a 34-fold rise in volume on the trade. The buyer of the calls paid $6.65 to make the bet. Shares of Apple are going for about $140, so the option is an at-the-money play. Shares are just off their 52-week low of $129. The tech firm has managed to increase revenue by 2 percent in the past year, but earnings are ...

Shares of hard drive manufacturerWestern Digital Corporation (WDC) are down 35 percent in the past year as PC sales have started to slow. One trader sees a potential recovery ahead. That’s based on the June 2023 $45 calls. With 248 days until expiration, 7,002 contracts traded compared to a prior open interest of 105, for a 67-fold rise in volume on the trade. The buyer of the calls paid $3.38 to make the bet. The stock last traded just under $36, so it would need to rise about $9, or 25 percent, for the option to move in-the-money. Western Digital has gone from trading at 8 times...

Shares of battery technology companyQuantumScape Corporation (QS) are down nearly 60 percent over the past year. One trader sees further downside in shares over the coming months. That’s based on the January 2023 $9 puts. With 102 days until expiration, 11,148 contracts traded compared to a prior open interest of 176, for a 63-fold rise in volume on the trade. The buyer of the puts paid $1.67 to make the downside bet. Shares last traded for just over $9, making this an at-the-money trade. That puts shares about 12 percent over their 52-week low of $8.19. QuantumScape is one of man...