Shares of Bitcoin mining companyRiot Blockchain (RIOT) has slid 90 percent from its highs. One trader sees the possibility for a further decline in the months ahead. That’s based on the December $3.00 puts. With 182 days until expiration, 10,208 contracts traded compared to a prior open interest of 308, for a 33-fold increase in volume on the trade. The buyer of the puts paid $0.35 to get into the trade. The stock recently traded for just under $5, so it would need to slide about another 20 percent for the option to move in-the-money. That’s a steep drop from a 52-week high over $46 ...

Shares of coffee shop chainStarbucks (SBUX) are trading near a 52-week low. One trader sees the possibility for a further significant drop ahead in the coming months. That’s based on the December $50 puts. With 183 days until expiration, 3,948 contracts traded compared to a prior open interest of 103, for a 38-fold rise in volume on the contract. The buyer of the puts paid $1.54 to make a further downside bet on shares. Shares last traded around $72, so they would need to slide $22, or nearly 30 percent, for the option to move in-the-money. Shares have traded as high as $126 in the p...

Shares of data center REITDigital Realty Trust (DLR) are down 20 percent over the past year. One trader sees the possibility for a further decline in the months ahead. That’s based on the October $105 puts. With 128 days until expiration, 8,515 contracts traded compared to a prior open interest of 123, for a 69-fold rise in volume on the trade. The buyer of the puts paid $3.55 to get into the trade. Shares recently traded around $127, so they’d need to fall $22, or another 17 percent in order for the options the move in-the-money. It would also be a significant new low, given the pri...

Shares of oil and natural gas exploration companyDevon Energy (DVN) have been in a steady uptrend over the past year. One trader sees the strong prospect for a further rally. That’s based on the January 2023 $35 calls. With 220 days until expiration, 72,384 contracts traded compared to a prior open interest of 248, for a staggering 292-fold rise in volume on the trade. The buyer of the calls paid $39.70 to make the bet. Shares last traded for around $74, meaning that the option is about $39 in-the-money already. That leaves very little time premium, so any modest move higher in share...

Shares of apparel manufacturing companyFIGS, Inc (FIGS) have slid about 75 percent in the past year. One trader sees further downside for the company in the months ahead. That’s based on the October $7.50 puts. With 130 days until expiration, 5,202 contracts traded compared to a prior open interest of 152, for a 34-fold rise in volume on the trade. The buyer of the puts paid $1.18 to bet on a further downside in shares. The stock last traded for about $8.15, so shares would need to drop about $0.75, or just under 10 percent, to move in-the-money. Shares are already close to their 52-...

Shares of oil and gas exploration companyComstock Resources (CRK) have soared 256 percent in the past year. One trader is betting on a further rally higher for the energy company. That’s based on the September $22 calls. With 98 days until expiration, 10,096 contracts traded compared to a prior open interest of 154, for a 66-fold jump in volume on the trade. The buyer of the calls paid $2.83 to get into the trade. Shares last traded just over $21, so they’d need to rise about 4 percent for the option to move in-the-money. The stock also has a 52-week high of just over $22, so shares ...

Shares of pot stockCanopy Growth Corp (CGC) are down 84 percent in the past year. One trader is betting that steady downtrend will continue. That’s based on the October $10 puts. With 134 days until expiration, 10,002 contracts traded compared to a prior open interest of 342, for a 29-fold rise in volume on the trade. The buyer of the puts paid $6.23 to make the downside bet. Shares last traded at about $4.25, so the option is priced with no real premium to it at this time. A further decline should lead to a move higher for the option. The stock has traded as high as $26.80 in the pa...

Shares of casino operatorLas Vegas Sands (LVS) have shed nearly 40 percent in the past year. One trader sees further downside in the weeks ahead. That’s based on the July $29 puts. With 37 days until expiration, 4,196 contracts traded compared to a prior open interest of 149, for a 28-fold rise in volume on the trade. The buyer of the puts paid $0.53 to get into the trade. Shares recently traded just over $35, but have a 52-week low at $29. So the option will move in-the-money if shares break to a new low in the coming weeks. The casino has lost money in the last year, and revenue...

Shares ofFord Motor Company (F) are down about 15 percent in the past year. One trader sees the potential for the company to drop further in the coming weeks. That’s based on the July $16 puts. With 38 days until expiration, 15,636 contracts traded compared to a prior open interest of 521, for a 30-fold rise in volume on the trade. The buyer of the puts paid $2.59 to get into the trade. Shares recently traded for about $13.50, so the $16 strike price is about $2.50 in-the-money, or about the price of the contract now. In other words, the buyer of the options is making a bet against s...

Shares of hotel proprietorPark Hotels & Resorts (PK) have been trading in a range for the past year. One trader sees some potential downside in the weeks ahead. That’s based on the July $17.50 put. With 39 days until expiration, 6,748 contracts traded compared to a prior open interest of 149, for a 49-fold rise in volume on the trade. The buyer of the puts paid $0.73 to make the downside bet. Share recently traded just over $18.50, so the stock would need to drop a little over 5 percent for the option to move in-the-money. The stock has a previous 52-week low of about $15.50, ...