There Could Be More Pain Ahead For PayPal

Shares of PayPal Holdings Inc PYPL Wednesday fell more than 4%. With this, the stock has shed more than 40% year to date.

On CNBC's "Options Action," Tony Zhang said PayPal and all payment stocks had a “pretty rough day.” One trader made a “very aggressive bet” on PayPal Holdings, he added.

Check out other stocks making big moves in the premarket.

There was a buyer of 1,585 of the June 92.5 puts at an average price of $3.25 per contract, Zhang mentioned. The buyer of these contracts laid down more than $0.5 million in premium and is betting that the stock will decline by at least another 21% by June expiration, he added.