Options Trader Makes $239K Bearish Bet On Aurora Cannabis Ahead Of Earnings

After a hot start to the year, Aurora Cannabis Inc (NYSE: ACB) stock has cooled in the past month, trading mostly sideways ahead of first-quarter earnings expected on May 11 (although this date hasn’t been confirmed). A look at the options market reveals traders are taking some large positions in Aurora ahead of that earnings report.

The Bet

Benzinga Pro subscribers received an options alert on Tuesday morning after a trader bought 2,664 Aurora put options at a $9 strike price that expire on June 21. The puts were purchased at the ask price of 90 cents and represent a $239,000 bearish bet on Aurora stock. The break-even price for …

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