Unusual Options Activity

Chipmaker Lam Research (LRCX) has been in a downtrend since July, and shares are now down over 7% in the past year. One trader sees a rebound in the first half of 2025. That’s based on the June 2025 $94 calls. With 179 days until expiration, 11,644 contracts traded compared to a prior open interest of 116, for a 56-fold rise in volume on the trade. The buyer of the calls paid $2.65 to make the bullish bet. Lam Research recently traded ...
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Entertainment venue operator
Sphere Entertainment Co. (SPHR) is up just 10% over the past year, far underperforming the overall stock market. One trader sees a rally in the next two months. That’s based on the February 2025 $40 calls. With 63 days until expiration, 5,945 contracts traded compared to a prior open interest of 191, for a 31-fold rise in volume on the trade. The buyer of the calls paid $3.70 to make the bullish bet. Sphere recently traded for about $38, meaning ...
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Athletic apparel manufacturer
Under Armour (UAA) is down 12% over the past year, far underperforming the market’s strong rally. One trader sees shares continuing to underperform through the end of 2026. That’s based on the December 18 2026 $10 puts. With 729 days until expiration, 4,889 contracts traded compared to a prior open interest of 161, for a 30-fold rise in volume on the trade. The buyer of the puts paid $2.68 to make the bearish bet. Under Armour shares recently traded for ...
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Social media site
Reddit (RDDT) has been on a tear, with shares soaring 275% over the past year. One trader sees further upside over the next two years. That’s based on the January 2027 $270 calls. With 758 days until expiration, 10,002 contracts traded compared to a prior open interest of 163, for a 61-fold rise in volume on the trade. The buyer of the calls paid $48.20 to make the bullish bet. Reddit shares recently traded for about $178. Shares would need ...
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Healthcare plan provider
Centene Corporation (CNC) has been trending lower over the past year, with shares down over 20%. One trader sees a further decline into the start of 2025. That’s based on the February 2025 $55 puts. With 65 days until expiration, 7,325 contracts traded compared to a prior open interest of 151, for a 49-fold rise in volume on the trade. The buyer of the puts paid $1.80 to make the bearish bet. Centene shares recently traded for about $59.50, so ...
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Bitcoin mining giant
Riot Platforms (RIOT) is down 25% over the past year, even as cyrpto prices have been surging higher. One trader sees shares continuing to underperform in the first half of 2025. That’s based on the June 2025 $11 puts. With 186 days until expiration, 10,016 contracts traded compared to a prior open interest of 196, for a 51-fold rise in volume on the trade. The buyer of the puts paid $2.78 to make the bearish bet. Riot shares recently traded ...
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Medical device manufacturer
Boston Scientific (BSX) is up 60% over the past year, on the back of increased interest in new technologies. One trader sees further upside going into the new year. That’s based on the January 2025 $100 calls. With 35 days until expiration, 13,942 contracts traded compared to a prior open interest of 107, for a massive 130-fold rise in volume on the trade. The buyer of the calls paid $0.25 to make the bullish bet. Boston Scientific shares recently traded ...
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Digital payment platform
PayPal Holdings (PYPL) is up 52% over the past year, far outperforming the overall market. One trader sees shares trending higher through the spring. That’s based on the March 2025 $130 calls. With 99 days until expiration, 10,194 contracts traded compared to a prior open interest of 343, for a 30-fold rise in volume on the trade. The buyer of the calls paid $0.47 to make the bullish bet. PayPal shares recently traded for about $89, meaning shares would need ...
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