This note highlights a select group of stocks showing the most unusual — and highly directional — options activity.
The goal is simple: follow the big money and trade in the direction of the underlying trend.
Here is the list of Unusual Options activity from January 29:
*Click to enlarge view
New Era Energy & Digital Inc $NUAI- Since going public last August, the stock has already surged over 2,000% from its lows and one trader is thinking this is just the beginning.
Buying 250 contracts of the 1/15/27 $15 calls is a longer-term bet, as the stock would need to at least double over the next year for the strike to be in-the-money.
SoFi Technologies Inc $SOFI- Looking at the chart, we can see why SOFI represents the day's largest bearish bet in terms of size; the stock is on failed breakout watch and appears set to plunge back below its 2021 highs.
The buyer purchased 24,024 contracts of the 3/20 $22 puts. While not the most aggressive strike selection, a violation of that key downside level by SOFI would likely accelerate the sell-off and make these puts highly profitable.
iShares Ethereum Trust $ETHA- With the relentless selling still hitting the crypto space, one trader is betting on further downside using ETHA puts as a bearish vehicle.
To hedge a long position or play a potential down wave, they bought 7,996 contracts of the 3/6 $18 puts. If crypto embarks on a fresh leg lower here, these puts could be in-the-money fast.
