A group of people with lots of money decided they think a company called On Holding will go up or down in value a lot soon. They bought options, which are like bets on the company's future, to show what they think. Some of them think it will go up and some of them think it will go down. The total amount of money they spent is over $2 million. Read from source...

1. The title is misleading and sensationalized. It implies that there is something unusual or suspicious about the options activity for ONON on May 29, when in fact it is a normal occurrence for large investors to place bullish or bearish bets on stocks they are interested in or have an opinion about. The title should reflect the actual content of the article and not try to lure readers with false promises of scandalous revelations.
2. The article does not provide any evidence or sources to support its claims that "somebody knows something is about to happen" or that these trades are indicative of a potential event or news related to ONON. This is a weak and unfounded argument based on speculation and assumption, not factual analysis.
3. The article contradicts itself by stating that the overall sentiment of the big-money traders is split between 47% bullish and 47%, bearish, but then only mentioning one put option and 18 calls. This implies that there are more than two sides to the story, or that some of the trades were not disclosed or reported, which undermines the credibility and accuracy of the data presented.
4. The article does not explain how it calculated the predicted price range based on the trading activity. What is the methodology or formula behind this estimate? How confident is the author in this projection? What are the assumptions and variables involved in this calculation? These questions should be answered to give readers a clearer understanding of the analysis and its limitations.
5. The article ends with an advertisement for Benzinga Pro, which is a blatant attempt to promote their service and generate revenue from the traffic generated by the article. This is a conflict of interest and a disservice to the readers who expect an unbiased and informative report on the options activity for ONON.

The overall sentiment of these big-money traders is split between 47% bullish and 47%, bearish. This means the article has a mixed sentiment, neither leaning towards one direction nor the other.

Possible recommendation: Buy ONON calls with a strike price between $30 and $40, expiring in June or July. This would allow you to benefit from the bullish sentiment of the large traders, while also limiting your potential losses if the stock fails to rally. The breakeven points for this strategy would be between $37.5 and $47.5, depending on the strike price and expiration date chosen.

Risks: Some possible risks are that the large traders may have different motives or time frames than you do, and they may not necessarily be correct in their predictions. Additionally, there is always a chance of an unexpected event or news that could impact the stock price negatively or positively. Therefore, it is important to monitor your position closely and adjust accordingly based on new information and market conditions.