Shares of offshore oil and gas equipment companyTransocean (RIG) are down about 30 percent in the past year, even as energy prices have been rising. One trader sees the potential for a further decline in shares in the next 11 months. That’s based on the May 2023 $1.50 puts. With 308 days until expiration, 15,308 contracts traded compared to a prior open interest of 104, for a massive 147-fold rise in volume on the trade. The buyer of the puts paid $0.25 to make the trade. With share around $2.70, the stock would need to lose $1.20, or over 40 percent, for the option to move in-the-mo...

Shares of tech and retail giantAmazon (AMZN) are more than 40 percent off of their 52-week high after adjusting for the stock’s recent share split. One trader sees a rebound in shares in the latter half of the year. That’s based on the December $166 calls. With 155 days until expiration, 3,019 contracts traded compared to a prior open interest of 124, for a 24-fold rise in volume on the trade. The buyer of the calls paid $0.86 to make a bet on the rebound. With shares recently trading near $110, they’d need to rise over $55, or 51 percent, for the option to move in-the-money. That wo...

Shares of semiconductor companyMicron Technology (MU) have lost one-quarter of their value in the past year. One trader sees a possibility for further downside in the months ahead. That’s based on the December $52.50 puts. With 156 days left until expiration, 14,048 contracts traded compared to a prior open interest of 500, for a 28-fold rise in volume on the trade. The buyer of the puts paid $4.28 to bet on shares further declining. Shares recently traded for about $57.80, so they’d need to drop a full $5.00, or just under 11 percent, for the option to move in-the-money. Despite ...

Shares of investment bankMorgan Stanley (MS) have slid nearly 15 percent in the past year. One trader is betting that shares will recover in the next 18 months. That’s based on the January 2024 $85 calls. With 554 days until expiration, 2,000 contracts traded hands at a 42-fold rise in volume on the trade. The buyer of the calls paid about $4.10 to get into the trade. Shares recently traded just under $77, so the stock would need to rise about $8, or just over 10 percent, in order for the options to move in-the-money. That’s still well under the stock’s 52-week high near $110 per sha...

Shares of residential construction companyToll Brothers Inc (TOL) have given up all of last year’s gains, and are even down 15 percent over the past year. One trader sees further downside ahead. That’s based on the January 2023 $30 put. With 193 days until expiration, 11,084 contracts traded compared to a prior open interest of 301, for a 38-fold rise in volume on the trade. The buyer of the puts paid $1.03 to bet on prices sinking lower. Shares recently traded for just over $47, so they would need to shed $17, or drop by over one third for the option to move in-the-money. With a 52-...

Shares of mining giantFreeport-McMoRan (FCX) are down 21 percent over the past year thanks to a slide in recent months. One trader sees the possibility for a rebound ahead in the coming months. That’s based on the February $33 calls. With 224 days until expiration, 10,047 contracts traded compared to a prior open interest of 101, for a 99-fold surge in volume on the option. The buyer of the calls paid $2.74 to get into the trade. Shares recently traded around $27, so it would take a rally of just over 22 percent for the option to move in-the-money. The strike price is well under the ...

Shares of airline operationAmerican Airlines Group (AAL) have shed over 37 percent of their value in the past year. One trader sees the possibility for a further decline in the next two years. That’s based on the June 2024 $3 puts. With 715 days until expiration, 8,774 contracts traded compared to an open interest of 138, for a 64-fold rise in volume on the trade. The buyer of the puts paid $0.46 to make the bearish bet. Shares recently traded for just under $14, so they would need to shed about $11, or nearly 80 percent of their value for the option to move in-the-money. The airl...

Shares of semiconductor companyMarvell Technology (MRVL) have lost over a quarter of their value in the past year. One trader sees a potential rebound ahead in the coming months. That’s based on the September $42.50 calls. With 72 days until expiration, 18,092 contracts traded compared to a prior open interest of 154, for a 117-fold jump in volume on the trade. The buyer of the calls paid $4.85 to get in. The buy comes as shares have hit a 52-week low under $42 per share, making the options an at-the-money trade. That’s off a 52-week high near $92 per share. While shares have been...

Shares of financial giantBank of America (BAC) have been in a downtrend for the past six months. One trader sees the potential for a rebound in the next two years. That’s based on the June 2024 $32 calls. With 717 days until expiration, 8,055 contracts traded compared to a prior open interest of 154, for a 52-fold rise in volume on the trade. The buyer of the calls paid $5.13 to make the trade. Shares recently traded for about $31, so they’d need to rise $1 to move in-the-money before expiration. The stock has a 52-week range of just under $31 to just over $50. The bank is down 23...

Shares of outdoor equipment producerClarus Corporation (CLAR) have been in a downtrend for the past year. One trader sees the possibility for a rebound in shares in the next few months. That’s based on the February $20 calls. With 228 days until expiration, 15,059 contracts traded compared to a prior open interest of 227, for a 66-fold rise in volume on the trade. The buyer of the calls paid $4.35 to get into the position. Shares recently traded for about $19, so they’d need to rise just under 5 percent in the coming months for the trade to move in-the-money. That’s well under the st...