Unusual Options Activity

Shares of social media company
Snap (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 ...
Read More About This

Shares of tobacco product company
Philip 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 ...
Read More About This

Shares of construction equipment manufacturer
Caterpillar (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 ...
Read More About This

Shares of financial giant
Bank 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 ...
Read More About This

Shares of telecom company
AT&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 ...
Read More About This

Shares of consumer tech giant
Apple (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 ...
Read More About This

Shares of hard drive manufacturer
Western 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, ...
Read More About This

Shares of battery technology company
QuantumScape 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 ...
Read More About This