Unusual Options Activity

Wall Street megabank
JPMorgan Chase (JPM) has rallied 35% in the past year, exceeding the returns of the overall stock market. One trader sees the potential for a further rally over the coming weeks. That’s based on the July 12 $205 calls. With 23 days until expiration, 13,453 contracts traded compared to a prior open interest of 314 for a 43-fold rise in volume on the trade. The buyer of the calls paid $1.10 to make the bullish bet. JPMorgan shares recently traded ...
Read More About This

Communication equipment producer
Hewlett Packard Enterprise (HPE) is up nearly 20% over the past year. One trader sees shares surging higher in the months ahead. That’s based on the September $35 calls. With 95 days until expiration, 5,433 contracts traded compared to a prior open interest of 128, for a 42-fold rise in volume on the trade. The buyer of the calls paid $0.20 to make the bullish bet. HPE shares recently traded near $22, meaning the stock would need to soar about ...
Read More About This

Copper producer
Freeport-McMoRan (FCX) is up 23% over the past year, however shares have recently fallen about 10% from its 52-week high. One trader sees the potential for shares to rebound in the coming weeks. That’s based on the July 5 $52 calls. With 21 days until expiration, 29,520 contracts traded compared to a prior open interest of 156, for a 189-fold surge in volume on the trade. The buyer of the calls paid $0.66 to make the bullish bet. FCX shares recently ...
Read More About This

Theater chain operator
Cinemark Holdings (CNK) has dropped 9% over the past year, as consumers have largely spent their money on other leisure activities. One trader sees the potential for shares to rally over the summer. That’s based on the July 19 $19 calls. With 36 days until expiration, 12,768 contracts traded compared to a prior open interest of 145, for an 88-fold rise in volume on the trade. The buyer of the calls paid $0.40 to make the bullish bet. Cinemark shares ...
Read More About This

Coffee chain
Starbucks (SBUX) is down 17% over the past year, as same-store sales in the U.S. have considerably slowed. One company expects shares to trend higher over the next month. That’s based on the July 12 $82 calls. With 30 days until expiration, 8,367 contracts traded compared to a prior open interest of 129, for a 65-fold rise in volume on the trade. The buyer of the calls paid $2.05 to make the bullish bet. Starbucks shares recently traded for about $81.50, ...
Read More About This

Oil and gas exploration and production company
Hess Corporation (HES), is up 9% over the past year. That’s far lagged the overall stock market. One trader is betting on a potential decline into next year. That’s based on the January 2025 $145 puts. With 219 days until expiration, 7,250 contracts traded compared to a prior open interest of 153, for a 47-fold rise in volume on the trade. The buyer of the puts paid $10.20 to make the bearish bet. Hess shares recently ...
Read More About This

Mega-bank
Bank of America (BAC) has been a market favorite over the past year, beating the overall S&P 500 by nearly 50%. One trader sees shares trending even higher in the coming months. That’s based on the September $39 calls. With 104 days until expiration, 4,696 contracts traded compared to a prior open interest of 159, for a 30-fold rise in volume on the trade. The buyer of the calls paid $2.38 to make the bullish bet. Bank of America shares recently traded ...
Read More About This

Drug manufacturer
Pfizer (PFE) has struggled in the past year, with shares shedding nearly 25%. One trader sees a further decline in the coming weeks. That’s based on the July 5 $28 puts. With 28 days until expiration, 18,025 contracts traded compared to a prior open interest of 165, for a massive 109-fold increase in volume on the trade. The buyer of the calls paid $0.21 to make the bearish bet. Pfizer shares recently traded for about $29.50. They would need to decline ...
Read More About This