Our Hot Money monitor triggered a bearish alert in MGM Resorts International (MGM) after a 200% increase in puts purchased.

Here's what I'm doing…

Buy-to-open the MGM July 30, 2021, $39.50/$37.50 put spread

At last glance, this is trading at $0.65 per spread.

Let’s manage our risk before entry and I’ll keep you updated every step of the way.