Seasoned options investors employ a “follow the flow” strategy when tracking large institutional trading to complement their strategy.

Fintel’s leaderboard of options activity tracks trades and highlights outsized transactions.

These ten stocks all appeared among the most significant transactions this week.

First Solar (FSLR)

One trader sold more than $3 million worth of First Solar’s (US:FSLR) Dec. 23 $160 puts — a bullish options trade, and another sold $1.45 million worth of January $162.50 puts.

Li Auto (LI)

China’s electric vehicle manufacturer Li Auto (US:LI) is the first of several Chinese shares appearing on the list. The stock had heavy call flow over the last few weeks as traders focused on options nearing expiration.

One buyer gobbled up $20 calls expiring next week. With Li Auto trading at almost $22, the buyer paid a nearly $3 million premium for the position. There was also heavy buying in this week’s $21.50 calls, with someone spending more than $1.8 million in premium.

EQT Corp. (EQT)

EQT Corp. (US:EQT) had some notable unusual options action this week in the January expiration calls. One trader bought more than $500,000 worth of the $34 calls while the shares traded at $41. The trader also owns almost $2 million of $45 calls.

Starbucks (SBUX)

Starbucks (US:SBUX) stock is around an eleven-month high at just under $104, and one trader was betting on even more upside with some at-the-money $June 105 calls. For this position, the trader dropped almost $3.5 million in premiums.

It’s not the first unusual options activity we’ve seen in Starbucks, and this may be a play on China easing its Covid-19 restrictions. That theme appears throughout this list with other China-related holdings.

Kraft Heinz (KHC)

Not known for many explosive moves or too much unusual options activity, Kraft Heinz (US:KHC) stands out this week after one notable trade, which followed another a few weeks ago.

First, on Nov. 14, one trader bought $935,000 worth of the $42.50 calls expiring in January 2025.

After a modest advance in the stock price, another trader bought $800,000 of slightly out of the money, April 2023, $42.50 calls.

Given the strikes and the premium, it wouldn’t be surprising if it was the same trader.

Farfetch (FTCH)

Two unusual options trades in Farfetch (US:FTCH) stand out, starting with the call side on Dec. 1.

Someone spent over $900,000 on deep out-of-the-money April $10 calls, as those shares traded under $6 at the time. An investor bought $42,000 of July $10 calls shortly after that.

A day later, on Dec. 2, someone sold the April $11 puts — a bullish trade — collecting $544,500 in premium for the position. If joined with the calls, this is one heck of a risk reversal position.

Pinduoduo (PDD)

China’s Pinduoduo (US:PDD) stood out this week, reaching number four on the list after someone paid more than $1.5 million for $83 calls expiring next week. That’s an in-the-money position because Pinduoduo traded for roughly $87 at the time of purchase.

Also, another trader paid almost $550,000 in premium for the $100 calls expiring in two weeks.

Fidelity National Information Services (FIS)

Fidelity National Information Services (US:FIS) stood out this week as one trader paid more than $1.2 million for the $70 calls expiring in April.

These calls expire in 144 days and were about $4 out-of-the-money at the time of the trade.

World Wrestling Entertainment (WWE)

Talk about a stock that never has much unusual options activity; World Wrestling Entertainment (US:WWE) tends to be pretty quiet in the options world.

That was until someone paid roughly $1.2 million in premiums on Nov. 30. 30th to buy for the January $80 calls, with shares trading around $78.25.

Ambarella (AMBA)

Ambarella (US:AMBA) tends to have even less unusual options activity than WWE, so it stands out when a trader drops more than $1 million in premium on a single trade.

That happened on Nov. 30. 30th, when one trader bought the out-of-the-money $80 calls expiring in January when shares were trading around $73.25.

This article originally appeared on Fintel

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