Riot Blockchain Inc (NASDAQ:RIOT) grabbed headlines late last year, as the former biotechnology firm was one of a handful of companies to suddenly transition its business to focus on blockchain. RIOT shares rose from below $5 in September to as high as $46.20 by Dec. 19. However, these gains quickly evaporated, with the equity crashing in 2018 to a current price of $7.23.

Despite this extreme price action, or maybe because of it, not one brokerage firm had initiated coverage on the stock. That changed this morning, when H.C. Wainwright announced a "buy" rating and $9 price target -- pricing in upside of almost 25%. The bullish attention has the security trading up 1% before the opening bell. 

If nothing else, this may help allay some fears surrounding Riot Blockchain. The shares fell sharply back in February -- around the time the company bought Logical Brokerage -- on a CNBC report questioning how CEO John O'Rourke sold stock during the late-2017 surge. More recently, the company was subpoenaed by the Securities and Exchange Commission (SEC), and the extended slide in the price of Bitcoin (BTC) certainly hasn't helped, either. 

Looking closer at the charts, RIOT bottomed just above $6 back in March, and is now battling the 50-day moving average. It's also worth noting that yesterday's close put Riot Blockchain's valuation just below the $100 million mark, a potentially significant level. The stock still has to deal with increased attention from short sellers, however, as these bears now control over 40% of the float after a 12.3% increase in the last two reporting periods.

Halozyme Therapeutics, Inc. (NASDAQ:HALO) stock is down 9.3% to trade at $18.12 this morning, after the biotech company reported first-quarter revenue short of analysts' forecasts, as well as a weaker-than-expected full-year guidance. In response, Halozyme  was downgraded to "underweight" from "equal weight" at Barclays.

HALO stock is now on track for its worst day since January 2017. The shares reached a multi-year high of $21.48 on March 20, but promptly pulled back, although the dip was contained by their 160-day moving average. However, the price action today has the security set to close below this trendline for the first time since September.

Additional downgrades and/or price-target cuts could pressure the biotech stock even lower. Of the seven brokerages covering HALO, four rate it a "strong buy," with only a single "sell" on the books. Furthermore, the security's average 12-month price target sits at $20.90, a 13% premium to the stock's current perch.

Elsewhere, short interest has been plummeting on the equity over the past year, down almost 50% from this point last year. But considering the recent technical weakness, these bears could be inclined to target HALO shares once again -- another potential headwinds for the stock.

Department store chain Kohl's Corporation (NYSE:KSS) is trading lower this morning, after receiving a downgrade to "neutral" from "outperform" and a price target cut to $64 from $72 from Credit Suisse. Analyst Michael Binetti said near-term risks could translate into a tough 2018 for the retailer, including weather-related slowing same-store sales growth. In response, KSS is down 1.3% at $59.75, at last check.

Looking at the charts, KSS surged 83% from its November lows to February's $69.48 two-year high, but has since been churning lower. And while the $58 level has emerged as a floor during this pullback -- and the 120-day moving average is containing today's downside -- the 80-day moving average has acted as a ceiling since mid-April. Kohl's stock has shed 5% over the past month, but is still up 62% year-over-year.

In the options pits, bearish bettors have been ramping up their exposure in recent weeks. Data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) shows the security with a 10-day put/call volume ratio of 1.19, ranking in the 82nd annual percentile. This suggests puts have been purchased over calls at a faster-than-usual clip.

This skepticism is seen elsewhere on Wall Street, too. Short interest on KSS rose nearly 10% during the most recent reporting period, and now represents 18% of the stock's total available float. At Kohl's stock's average daily trading volume, it would take almost nine days for the shorts to cover their bearish bets.

Shares of Symantec Corporation (NASDAQ:SYMC) are down 32.4% to trade at $19.72, fresh off a 23-month low of $18.85. The Norton antivirus software parent said its financial results and guidance could be adjusted pending an internal audit initiated by concerns flagged from a former employee -- though no further details were given. And while the company reported better-than-expected first-quarter adjusted profit and revenue, it gave a disappointing full-year forecast.

The shares have received an onslaught of bearish brokerage notes, too. Included in the bunch was a downgrade to "perform" from "outperform" at Oppenheimer, as well as price-target cuts to $20 at both Jefferies and Cowen. The latter called the company's move to waive the question-and-answer portion of its earnings call "shocking," while Deutsche Bank warned of the "risk of leadership fall-out."

SYMC is now pacing for its biggest daily loss since June 2001, and has swung to a 31% year-to-date deficit. And while short sellers are sidelined in today's trading, they are likely cheering the drop. Short interest on Symantec stock has jumped 10.8% in the most recent reporting period to 29.77 million shares -- the most since mid-November 2016.

However, options traders are making a beeline toward the cybersecurity stock. Already today, around 39,000 puts and 35,000 calls have changed hands on SYMC -- 26 times what's typically seen at this point in the session, and volume pacing in the 100th annual percentile.

Day traders are targeting the weekly 5/11 19-strike put, which appears to be seeing a mix of buy- and sell-to-open activity. Elsewhere, the May 19 put is active, and it looks like new positions are being purchased here for a volume-weighted average price of $0.82. If this is the case, breakeven for the put buyers at next Friday's close is $18.18 (strike less premium paid), territory not seen since June 2016.

Chinese internet stock Baidu Inc (NASDAQ:BIDU) was upgraded to "market perform" from "underperform" and saw its price target hiked to $305 from $240 at Bernstein. The brokerage firm projected 20% growth for the company following a recent string of divestitures -- including the sale of its food delivery firm to Alibaba's (BABA) Ele.me -- and the successful U.S. trading launch of iQIYI (IQ), of which BIDU owns a majority stake.

After coming within a chip-shot of its Oct. 17 record high of $274.97 earlier, BIDU stock was last seen up 0.3% at $269.43, bringing its week-to-date gain to 7.1% and its 2018 return to 14.6%. This positive price action just echoes the equity's recent trend, with Baidu gaining 26% from its early April lows. However, the $269-$272 region has served as staunch resistance since that mid-October peak.

In the options pits, meanwhile, it's rarely been a better time to buy premium on Baidu shares. The stock's Schaeffer's Volatility Index (SVI) of 28% ranks in the 16th annual percentile, indicating low volatility expectations are being priced into short-term options.

Plus, the stock has consistently rewarded premium buyers over the past year. Specifically, its Schaeffer's Volatility Scorecard (SVS) reading is docked at an elevated 93 out of a possible 100, meaning BIDU has tended to make bigger moves over the last 12 months than what the options market was expecting.

Those who may be hesitant initiating a bullish trade on a stock that's trading near familiar resistance could consider long call spread. By selling to open one leg of this modestly bullish spread, a trader can lower their cost of entry and breakeven point -- though, they also give up the unlimited profit potential of buying a call outright.

The Dow is on pace to score a seven-day winning streak -- its longest winning streak since November -- to close out the week in the black, thanks to a combination of cooling inflation data and rising oil prices. The S&P 500 and Nasdaq should log solid weekly wins as well, with the latter eyeing a six-day winning streak of its own. President Donald Trump made noise once again, after pulling the U.S. from President Obama's Iran nuclear deal, and healthcare stocks could move on Trump's speech on drug pricing. Elsewhere, Wall Street's "fear gauge," the Cboe Volatility Index (VIX) is set for its its longest weekly losing streak since mid-2016. Nevertheless, these three charts could spell trouble for stocks soon.

Checking In On FAANG Stocks

Although lower today, Apple (AAPL) stock continued to stay hot and notched its longest winning streak since July. Facebook (FB), in the wake of the Cambridge Analytica scandal in March, reshuffled its executive board, creating a new team dedicated to blockchain and privacy.

Amazon (AMZN) and Netflix (NFLX) were both highlighted for their bargain bin options, while the former's omnipresence likely motivated Walmart's (WMT) deal for Flipkart. Amazon also found its way into the news with a new wrinkle to its Sears (SHLD) partnership, and a former executive that was integral in its Whole Foods integration left the company for Snap (SNAP). 

Drug Stocks In the Spotlight

Several drug stocks made noise this week, both good and bad. Options traders piled on Valeant Pharmaceuticals (VRX) after an earnings beat and face-lift, although Halozyme Therapeutics (HALO) wasn't so lucky on the earnings front. Array Biopharma (ARRY) gave off a bullish signal of its own before earnings, while T2 Biosystems (TTOO) and Arrowhead Pharmaceuticals (ARWR) burned shorts after some bullish analyst attention.

Tenet Healthcare (THC) remained red-hot -- and a steal at that -- but Exelixis (EXEL) was gutted after subpar cancer drug results. Cardinal Health (CAH) got a boost yesterday ahead of President Trump's speech on drug prices today. 

Big Week for Oil, Solar Stocks

The energy sector found itself in the news often this week amid rising oil prices and Trump's Iran decision. Oil stocks Anadarko Petroleum (APC) and Callon Petroleum (CPE) both scored record highs, and remain a bargain on the options front. Cabot Oil & Gas (COG) was less fortunate, sent lower after a downgrade from BofA-Merrill Lynch. Meanwhile, solar stocks and Elon Musk-led Tesla (TSLA) also remained in focus after a landmark California solar mandate.

Dow Stocks Making Noise, Plus Other Movers And Shakers

Analysts waxed optimistic on McDonald's stock (MCD), with this key level turning into a battleground among options traders. Walt Disney (DIS) stock turned lower despite an impressive quarterly earnings beat, and options traders kicked rocks. Microsoft (MSFT) also drew a flurry of options traders, mostly of the bullish variety.

Square (SQ) continued its torrid pace, with many toasting the roll-out of Square for Restaurants. Roku (ROKU) is eyeing its best week of 2018 after posting first-quarter earnings and revenue beyond analyst expectations. The ever-volatile Riot Blockchain (RIOT) is looking for a win, too, after earning its first "buy" rating.

Retail In Focus Next Week

Next week will be a big one for the retail sector. Home Depot (HD), Walmart (WMT), and Dick's Sporting Goods (DKS) will report earnings, and monthly retail sales data is expected later in the week. 

GameStop Corp. (NYSE:GME) keeps getting hammered. The shares of the video game retailer have given back roughly half their value over the past 12 months, and today they're trading down 3.7% at $12.55, after the company announced the resignation of CEO Michael Mauler, who just took the position in February. Co-founder Daniel DeMatteo was named interim CEO, effective immediately.

Telsey Advisory lowered its opinion on GME shares even before the news broke this morning, dropping its price target to $15 from $17. Loop Capital, meanwhile, said a management shake-up is "the last thing GameStop needs." Still, the brokerage firm maintained its "hold" assessment, citing the stock's extremely low valuation.

Some options traders are staying optimistic, too. There appears to be buy-to-open activity at the October 12 and May 12.50 calls today, which would be bets on more upside in the months ahead. This is nothing new, though, as call buying was more popular than put buying during the past 10 days at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX).

Some of the recent call activity could have been from short sellers, who continue to target GME. Short interest rose another 25.6% in the past two reporting periods, and now accounts for 41.6% of GameStop's float. As such, unusual buying at out-of-the-money calls could be attributed to hedging from these bears.

Stocks are mostly higher today, with the Dow heading towards its seventh straight win. President Trump spoke at 2 p.m. ET today regarding drug prices, revealing a plan to lower prescription costs. Drug stocks Akcea Therapeutics Inc (NASDAQ:AKCA), Zymeworks Inc (NASDAQ:ZYME), and Omeros Corporation (NASDAQ:OMER) are all specific names that are enjoying a boost. Here's a closer look at what has shares of AKCA, ZYME, and OMER moving today.

FDA Panel Nod Boosts Akcea Stock

Akcea Therapeutics stock is up 12.9% to trade at $23.33, after receiving a nod from a Food and Drug Administration (FDA) panel for its rare genetic disease treatment. The FDA itself  will make a final decision on the drug by Aug. 30. As a result, Wells Fargo upgraded AKCA to "outperform" from "market perform." It also issued a price-target hike to $33 from $30, though Stifel cut its target to $25 from $30 before the news.

AKCA stock gapped lower earlier this week, amid concerns the FDA panel wouldn't support the treatment. The shares have since filled that gap and then some, and are now trading about three times their July 2017 initial public offering (IPO) price of $8. The security has now added 35% in 2018, yet remains far off its March 21 record high of $33.98. Analysts remain split, with half of the brokerages covering AKCA rating it a tepid "hold." 

Zymeworks Stock Receives Bullish Analyst Attention

Zymeworks stock is up 8.6% to trade at $15.79, after Barclays upgraded the biotech name to "equal weight" from "underweight," while nearly doubling its price target to $15 from $8. The analyst in coverage believes its breast cancer combo therapies "hold some promise."

On the charts, ZYME shares have more than doubled in the past six months, and have been guided higher by their ascending 60-day moving average. Not surprisingly then, short sellers have been fleeing the scene in droves. Short interest fell by 30% in the two most recent reporting periods, and now sits at a record low. 

Omeros Stock Higher After Upbeat Earnings

Omeros stock is up 22.8% to trade at $19.81 -- one of the best stocks on the Nasdaq today -- thanks to a well-received earnings report. Since falling to an annual low of $8.36 on March 2, OMER has more than doubled, and is set to top its 200-day moving average for the first time since January.

The security is ripe for a short squeeze as well. Short interest increased by 10% in the most recent reporting period, and the 10.56 million shares sold short represent a whopping 23% of OMER's total available float. At the stock's average daily trading volume, it would take more than two weeks for shorts to buy back their positions.

Shares of auto manufacturer Ford Motor Company (NYSE:F) are higher in early trading, thanks to news reports from over the weekend that the company could resume production on the F-150 pick-up series by this Friday, following a recent fire at a parts factory. The fire caused more than 7,600 workers to be temporarily laid off, and at least two factories to halt production. In response, Ford stock is up 0.3% at $11.22 at last check. 

Looking at the charts, F has been slowly rising on the charts since bottoming at $10.14 back on March 2, carving out a series of higher lows and highs. And while the stock remains well below the January peak of $13.33, the 50-day moving average has stepped in as solid support in recent weeks.

Despite historically being one of the worst stocks to own in May, traders have taken a bullish stance toward F in the options pits. Data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) shows the security with a 10-day call/put volume ratio of 4.01, ranking in the 93rd annual percentile. This suggests calls have been purchased over puts at a much faster-than-usual clip.

Echoing this, the security's Schaeffer's put/call open interest ratio (SOIR) of 0.57 ranks in the low 10th percentile of its annual range. In other words, speculative players have rarely been more heavily skewed toward calls over puts, looking at options that expire in the next three months.

Optical component stocks are rallying today, after President Donald Trump signaled support for embattled Shenzhen-based tech firm ZTE. Trump tweeted that he and Chinese President Xi Jinping are "working together to give massive Chinese phone company, ZTE, a way to get back into business, fast." In mid-April, the Commerce Department initiated a seven-year ban for U.S. companies selling to the telecom company, causing ZTE to suspend part of its operations.Among those making big moves higher are Acacia Communications, Inc. (NASDAQ:ACIA), Lumentum Holdings Inc (NASDAQ:LITE), and Oclaro Inc (NASDAQ:OCLR).

Acacia Communications Shorts Dodge a Bullet

Acacia Communications gets about 30% of its revenue from ZTE, and today the shares have shot up 11.4% to trade at $35.08. While the stock still has yet to close its April 13 bear gap -- which sent the shares to a record low of $24.72, and would take a breakout above the round $40 mark to fill -- they are trading above $34-$35 range, which had served as a floor from mid-November through early April.

A handful of short sellers cashed out during the stock's recent technical troubles, too. Short interest on ACIA fell 7.1% from the April 15 to the May 1 reporting periods, and is now docked at 5.98 million shares. However, this still accounts for almost 25% of the stock's available float.

Lumentum Stock Squeezes Shorts

ZTE sales reportedly account for roughly 5%-10% of Lumentum revenue, and the stock is trading 3.8% higher at $65.50 after Trump's tweet. After skimming the round $50 mark in late April, the shares gapped higher on a positive earnings reaction, and are now trading above recent congestion in the $64 area.

LITE is maintaining a nearly 33% year-to-date lead, and shorts may be feeling the pressure. The 10.95 million Lumentum shares sold short represent 18.3% of the stock's available float, or 4 times the average daily pace of trading. A continued surge could shake some of the weaker bearish hands loose, creating even bigger tailwinds for the security.

Oclaro Stock Rallies Into Key Technical Level

Oclaro stock is up 6% to trade at $9.08, but is running out of steam near $9.30 -- home to its pre-bear gap levels from mid-April. The company brings in almost 20% revenue from sales to ZTE, and is currently being bought out by Lumentum in a cash-and-stock deal valued at $1.8 billion, or $9.99 per OCLR share.

Amazon.com, Inc. (NASDAQ:AMZN) stock is up 0.3% to trade at $1,607.52 this morning, after receiving some bullish analyst attention from  J.P. Morgan Securities. Although no price-target hike or upgrade was given, the brokerage valued Amazon's Prime subscription service at $785 per year, nearly seven times its annual cost -- and more than 44% more than its 2016 estimated value. The analyst in coverage cited several new benefits from the past year such as the Whole Foods delivery service and two-day deliver as reason for the growth.

On the charts, AMZN shares have relied on support from their ascending 80-day moving average, a trendline that caught the last two pullbacks in April. The equity has added more than 37% in 2018 alone, yet remains off its April 27 record high of $1,638.10.

Options traders are staying optimistic. Data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) shows AMZN with a 10-day call/put volume ratio of 1.37, which ranks in the 96th annual percentile. This suggests calls have been purchased over puts at a much faster-than-usual clip over the past two weeks -- and those purchasing short-term options doing so on the cheap.

Analysts are upbeat toward the FAANG stock, too. Of the 34 brokerages covering the shares, 31 maintain a "buy" or better rating. Plus, the average 12-month price target of $1,827.93 is a nearly 14% premium to current trading levels.

Streaming music stocks Pandora Media Inc (NYSE:P) and Spotify Technology SA (NYSE:SPOT) are in focus this morning, after investment research firm Cascend Securities initiated coverage on both. We'll take a closer look at shares of P and SPOT below, as well as some recent options activity.

Cascend Joins P Stock Skeptics

Cascend started coverage on Pandora with an "underweight" designation and $6 price target, a discount to current trading levels. The shares were last seen trading down 0.3% at $7.24, as they cool some following an enormous earnings bull gap from earlier this month. Most analysts share Cascend's skeptical outlook, with 13 of 23 in coverage handing out "hold" or "sell" ratings.

Options traders have also been showing bearish tendencies. The security's 10-day put/call volume ratio across the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) stands at 0.99, but although this shows an almost even split between call and put buying during the past two weeks, the annual percentile rank of 94% reveals such a preference for puts to be very unusual.

Call Traders Target SPOT Shares

Spotify stock, meanwhile, is trading up 2% at $159.95, after Cascend Securities began coverage with a "buy" rating and $185 price target. While this prices in upside of roughly 15.7%, it's actually a bit lower than the price targets that rolled in on SPOT a few weeks back. Of course, the company disappointed in its first-ever earnings release earlier this month, a day after hitting a record high of $171.23.

Spotify options volume is accelerated in early trading, with calls and puts both seeing heavy trading. The most popular option so far is the May 162.50 call, where new positions are being opened. If this is buy-to-open activity, the traders are betting on SPOT stock rising back above $162.50 by Friday's close, when the contracts expire.