Shares of exercise technology companyPeloton Interactive (PTON) have shed over 75 percent of their value in the past year. with expectations for shares low, one trader is betting that the selloff is largely over. That’s based on the January 2024 $35 calls. With 749 days until expiration, over 2,769 contracts traded compared to an open interest of 123, for a 23-fold rise in volume. The buyer of the calls paid $14.70 to make the trade. Shares are currently right around $35, making this an at-the-money trade. The option could rise dollar-for-dollar with any move higher in shares. And wi...

Shares of energy exploration and development companyDiamondback Energy (FANG) are up 125 percent over the past year on a strong energy market. One trader sees the potential for a move even higher. That’s based on the June $120 calls. With 168 days until expiration, 3,663 contracts traded against a prior open interest of 102, for a 36-fold rise in volume. The buyer of the calls paid $10.65 to make the trade. While shares have moved higher in the past year, the company has seen revenue surge 165 percent. However, the company isn’t yet reporting a full year profit, coming off of 2020’s ...

Shares of mobile commerce companyAffirm Holdings (AFRM) have been declining in recent weeks after a big jump higher earlier in the year. One trader sees the potential for shares to reverse course and trend higher again. That’s based on the May $125 calls. With 141 days until expiration, over 5,125 contracts traded compared to an open interest of 336, for a 15-fold rise in volume. The buyer of the calls paid $15.40 to make the trade. Shares last traded around $107, so they would need to rise $18, or about 17 percent between now and May for the trade to move in-the-money. Even with ...

Shares of consumer goods companyColgate-Palmolive Company (CL) have ended up trading flat over the past year. One trader sees the potential for a move higher in the coming months. That’s based on the May $85 calls. With 142 days until expiration, 11,402 contracts traded hands, a 34-fold rise in volume from the prior open interest of 337 contracts. The buyer of the calls paid $2.88 to make the trade. Shares last traded around $83, so it would take less than a 3 percent rally in shares for the option to move in-the-money. Shares have a 52-week high just over $86 per share. Despite a...

Shares of communications real estate investment trustAmerican Tower Corporation (AMT) have been trending higher in the last year, although they’ve flatlined in recent months. One trader sees a deep value in shares and the potential for them to move higher. That’s based on the January 2023 $150 calls. With 389 days until expiration, 1,770 calls traded against a prior open interest of 121, for a 15-fold rise in volume. The buyer of the calls paid $131.65 to make the trade. Shares of the company recently traded around $281, meaning that the option is already $130, or about 87 percent, i...

Shares of gold mining firmNewmont Mining (NEM) have been range-bound over the past few months. One trader sees the company moving back down to the lower end of its range in the next few weeks. That’s based on the February $52.50 put. With 56 days until expiration, 6,930 contracts traded against a prior open interest of 295, for a 23-fold rise in volume. The buyer of the puts paid $0.88 to make the trade. Overall, shares are down about 2 percent in the last year, as gold prices have likewise traded in a range, even as inflation, typically a big mover behind gold prices, has risen to i...

Shares of cryptocurrency mining companyRiot Blockchain (RIOT) have been sliding along with the price of Bitcoin the past few months. However, one trader sees shares moving far higher in the next year. That’s based on the January 2023 $85 call. With 393 days until expiration, 3,845 contracts traded compared to a prior open interest of 197, for a 20-fold rise in volume. The buyer of the calls paid $3.45 to make the trade. Shares last traded near $22.50. The $85 strike price would require a 277 percent rally in shares for the option to move in-the-money. Such a move is possible if th...

Shares of bankWells Fargo (WFC) have been trending sideways for the past several months, with a few mild drops followed by a gradual recovery. One trader sees the possibility for a big drop in the next two years. That’s based on the January 2024 $27.50 puts. With 760 days on the clock until expiration, 5,001 contracts traded against a prior open interest of 138, for a 36-fold jump in volume. The buyer of the calls paid $1.51 to make the trade. Shares last traded near $48. So in order for these options to move in-the-money, shares of the bank would need to drop by 43 percent. That ...

Shares of retailerWalmart (WMT) have been rangebound over the past month as concerns over the economy have weighed on what’s usually a great time seasonally for retailers. One trader sees the possibility for a move higher in the coming weeks. That’s based on the January $140 calls. With 24 days left until expiration, over 7,019 contracts traded compared to an open interest of 155, for a 45-fold surge in volume. The buyer of the calls paid $3.80 to make the trade. With shares last trading just under $140, against a 52-week high of $152 per share, it’s likely that the trade moves in-th...

Shares of payments companyBlock (SQ), formerly Square, have been in a major drop over the past few weeks. One trader sees the possibility of a rebound in the next few months. That’s based on the March $185 calls. With 87 days left on the trade, 10,250 calls traded compared to a prior open interest of 417, for a 25-fold rise in volume. The buyer of the calls paid $10.48 to make the trade. With shares last trading near $165, they would need to rally more than 12 percent to move in-the-money. That’s certainly achievable in the next few months, as shares look oversold and ready for a rel...