Unusual Options Activity

Steel producer
United States Steel (X) is up 9% over the past year, and has seen some wild swings as a proposed merger was nixed by regulators. One trader is betting shares will trend higher into the middle of next year. That’s based on the May 16 2025 $50 calls. With 168 days until expiration, 6,000 contracts traded compared to a prior open interest of 271, for a 22-fold rise in volume on the trade. The buyer of the calls paid $2.50 ...
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Healthcare facility REIT
Medical Properties Trust (MPW) is down 10% over the past year, amid a slowdown in revenue and earnings. One trader sees shares trending lower into the spring of 2025. That’s based on the March 21, 2025 $3.50 puts. With 113 days until expiration, 30,401 contracts traded compared to a prior open interest of 422, for a 72-fold rise in volume on the trade. The buyer of the puts paid $0.38 to make the bearish bet. Medical Properties shares recently traded ...
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Airline operator
American Airlines Group (AAL) is up 18% over the past year, underperforming the overall stock market. One trader sees shares trending higher into the end of the year. That’s based on the December 27, 2024 $15 calls. With 30 days until expiration, 35,612 contracts traded compared to a prior open interest of 288, for a 124-fold rise in volume on the trade. The buyer of the calls paid $0.47 to make the bullish bet. American Airlines shares recently traded for just ...
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Mortgage REIT
AGNC Investment Corp (AGNC) is up 11% over the past year, before including its hefty dividend of 15%. One trader is betting that shares will settle down over the next few months and trend lower. That’s based on the February 2025 $9 puts. With 87 days until expiration, 5,048 contracts traded compared to a prior open interest of 102, for a 50-fold rise in volume on the trade. The buyer of the puts paid $0.23 to make the bearish bet. AGNC ...
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Financial services platform SoFi Technologies (SOFI) has been on a tear, with shares up 114% over the past year. One trader sees further gains into the summer of 2025. That’s based on the July 2025 $21 calls. With 235 days until expiration, 6,764 contracts traded compared to a prior open interest of 102, for a 66-fold rise in volume on the trade. The buyer of the calls paid $1.85 to make the bullish bet. SoFi shares recently traded for about $15.50, so ...
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Utility operator The AES Corporation (AES) is down 20% over the past year, with a significant drop just over the past two months. One trader sees shares continuing to decline in the weeks ahead. That’s based on the December 20 $12 puts. With 28 days until expiration, 14,611 contracts traded compared to a prior open interest of 154, for a 95-fold rise in volume on the trade. The buyer of the puts paid $0.20 to make the bearish bet. AES shares recently ...
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Gold exploration and production giant Barrick Gold Corp (GOLD) is up 6% over the past year, underperforming both the stock market and a massive rally in gold itself. One trader sees shares trending higher over the next two years. That’s based on the January 15 2027 $35 calls. With 785 days until expiration, 20,024 contracts traded compared to a prior open interest of 104, for a massive 193-fold jump in volume on the trade. The buyer of the calls paid $0.64 ...
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Athletic apparel manufacturer Nike (NKE) is down 30% over the past year. One trader sees the stock trending lower over the weeks ahead. That’s based on the December 27 $65 puts. With 37 days until expiration, 4,333 contracts traded compared to a prior open interest of 128, for a 34-fold rise in volume on the trade. The buyer of the puts paid $0.53 to make the bearish bet. Nike shares recently traded for just under $75, so shares would need to decline ...
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