Unusual Options Activity

American Airlines (AAL) is up 6 percent over the past year, about double the return of the S&P 500. One trader sees shares declining in the months ahead. That’s based on the February 2024 $11 puts. With 178 days until expiration, 7,010 contracts traded compared to a prior open interest of 167, for a 42-fold rise in volume on the trade. The buyer of the puts paid $0.35 to make the bearish bet. American Airlines shares recently went for about $15, ...
Read More About This

Oil and gas exploration and production company
Suncor Energy (SU) is slightly down over the past year as energy prices have moderated. One trader sees shares trending higher into the end of the year. That’s based on the December $34 calls. With 119 days until expiration, 45,164 contracts traded compared to a prior open interest of 317, for a 142-fold rise in volume on the trade. The buyer of the calls paid $1.27 to make the bullish bet. Shares last traded just under ...
Read More About This

Singapore-based e-commerce and digital finance platform
Sea Limited (SE) dropped nearly 30 percent on Tuesday. One trader expects shares to decline further in the next month. That’s based on the September $35 puts. With 28 days until expiration, 15,097 contracts traded compared to a prior open interest of 376, for a 40-fold rise in volume on the trade. The buyer of the puts paid $0.60 to make the bearish bet. Sea Limited recently traded near $40, so shares would need to drop ...
Read More About This

Office and retail-oriented real estate investment trust
Vornado Realty Trust (VNO) has lost about one quarter of its value over the past year. One trader sees shares trending even lower in the coming months. That’s based on the October $15 puts. With 65 days until expiration, 4,003 contracts traded compared to a prior open interest of 145, for a 28-fold rise in volume on the trade. The buyer of the puts paid $0.25 to make the bearish bet. Shares recently went for about ...
Read More About This

Marine shipping company
Nordic American Tankers Limited (NAT) is up over 65 percent in the past year. One trader sees the potential for a pullback in the weeks ahead. That’s based on the September 15 $4.50 puts. With 31 days until expiration, 9,620 contracts traded compared to a prior open interest of 224, for a 43-fold rise in volume on the trade. The buyer of the puts paid $0.60 to make the bearish bet. Shares recently traded just over $4, making this trade ...
Read More About This

Major Wall Street bank
Citigroup (C) has lost nearly 20 percent over the past year. One trader sees the bank bucking its downtrend and moving higher in the months ahead. That’s based on the December $44 calls. With 122 days until expiration, 5,731 contracts traded compared to a prior open interest of 229, for a 25-fold rise in volume on the trade. The buyer of the calls paid $3.10 to make the bullish bet. Shares recently went for just over $44, making this ...
Read More About This

Energy giant
ConocoPhillips (COP) is up over 20 percent in the past year, nearly triple the return of the S&P 500. One trader sees shares trending higher in the months ahead. That’s based on the October $135 calls. With 70 days until expiration, 8,312 contracts traded compared to a prior open interest of 140, for a 59-fold rise in volume on the trade. The buyer of the calls paid $0.65 to make the bullish bet. Shares recently traded around $116, so they would ...
Read More About This

E-commerce platform company
Shopify (SHOP) has soared nearly 60 percent in the past year. One trader sees a further rally ahead for shares in the next seven months. That’s based on the March 2024 $70 calls. With 217 days until expiration, 11,583 contracts traded compared to a prior open interest of 171, for a 68-fold rise in volume on the trade. The buyer of the calls paid $4.90 to make the bullish bet. Shares recently traded for about $56, so they would ...
Read More About This