Investors with a lot of money to spend have taken a bearish stance on W.W. Grainger GWW.
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with GWW, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 13 options trades for W.W. Grainger.
This isn't normal.
The overall sentiment of these big-money traders is split between 0% bullish and 100%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $49,140, and 12, calls, for a total amount of $502,596.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $820.0 and $900.0 for W.W. Grainger, spanning the last three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for W.W. Grainger options trades today is 243.4 with a total volume of 426.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for W.W. Grainger's big money trades within a strike price range of $820.0 to $900.0 over the last 30 days.
W.W. Grainger 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| GWW | CALL | TRADE | NEUTRAL | 01/19/24 | $820.00 | $59.4K | 513 | 103 |
| GWW | CALL | TRADE | BEARISH | 02/16/24 | $830.00 | $59.0K | 354 | 23 |
| GWW | CALL | TRADE | NEUTRAL | 01/19/24 | $820.00 | $56.1K | 513 | 27 |
| GWW | PUT | SWEEP | BEARISH | 02/16/24 | $900.00 | $49.1K | 0 | 12 |
| GWW | CALL | TRADE | NEUTRAL | 02/16/24 | $830.00 | $48.9K | 354 | 41 |
About W.W. Grainger
W.W. Grainger distributes approximately 1.5 million maintenance, repair, and operating products that are sourced from over 4,500 suppliers. The company serves about 5 million customers through its online and electronic purchasing platforms, vending machines, catalog distribution, and network of over 300 global branches. In recent years, Grainger has invested in its e-commerce capabilities and is the 11th-largest e-retailer in North America.
In light of the recent options history for W.W. Grainger, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of W.W. Grainger
- Currently trading with a volume of 135,074, the GWW's price is up by 0.72%, now at $845.15.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 15 days.
What The Experts Say On W.W. Grainger
2 market experts have recently issued ratings for this stock, with a consensus target price of $877.5.
- Reflecting concerns, an analyst from Jefferies lowers its rating to Hold with a new price target of $825.
- Maintaining their stance, an analyst from Oppenheimer continues to hold a Outperform rating for W.W. Grainger, targeting a price of $930.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for W.W. Grainger with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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