Large Option Traders Are Selling The Aurora Cannabis Earnings Pop

Aurora Cannabis Inc (NYSE: ACB) shares traded higher by 8 percent this week after the company reported a mixed first-quarter earnings report Tuesday evening. Options traders made some big moves following Aurora’s earnings, and the largest trades suggest the Aurora rally could soon run out of steam.

The Trades

Throughout the week, Benzinga Pro subscribers received a number of options alerts related to Aurora Cannabis.

On Wednesday morning around 10:30 a.m., a trader sold 2,000 Aurora call options at a $9 strike price that expire on Dec. 20. The calls were sold at the bid price of $1.051 and represent a $315,500 bearish on Aurora shares.

The next unusually large trade came Wednesday shortly after 2:00 p.m. The trader first sold 1,261 Aurora put options at a $9 strike price that expire on June 21 at the bid price of 95 cents. A few minutes later, likely the same trader sold another 1,000 Aurora put options at a $9 strike price that expire on June 21 at …

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More Large Option Traders Are Selling The Aurora Cannabis Earnings Pop