Investors with a lot of money to spend have taken a bearish stance on Zions Bancorp ZION.
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 ZION, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 11 options trades for Zions Bancorp.
This isn't normal.
The overall sentiment of these big-money traders is split between 45% bullish and 54%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $40,000, and 10, calls, for a total amount of $683,289.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $12.5 and $43.0 for Zions Bancorp, spanning the last three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Zions Bancorp stands at 1402.1, with a total volume reaching 2,705.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Zions Bancorp, situated within the strike price corridor from $12.5 to $43.0, throughout the last 30 days.
Zions Bancorp 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ZION | CALL | SWEEP | BULLISH | 04/19/24 | $40.00 | $244.8K | 3.0K | 694 |
| ZION | CALL | SWEEP | BEARISH | 01/17/25 | $35.00 | $117.8K | 435 | 125 |
| ZION | CALL | SWEEP | BEARISH | 01/17/25 | $32.50 | $55.5K | 497 | 52 |
| ZION | CALL | TRADE | BULLISH | 01/19/24 | $40.00 | $49.9K | 6.2K | 544 |
| ZION | CALL | TRADE | NEUTRAL | 02/16/24 | $32.50 | $44.2K | 0 | 53 |
About Zions Bancorp
Zions Bancorporation is a regional U.S. bank with core operations that span 11 states. The bank is headquartered in Salt Lake City and does business primarily in the Western and Southwestern United States. Zions primarily focuses on providing banking services to small and midsize businesses, with the majority of its loans focused on commercial and commercial real estate lending.
Following our analysis of the options activities associated with Zions Bancorp, we pivot to a closer look at the company's own performance.
Current Position of Zions Bancorp
- Trading volume stands at 1,505,781, with ZION's price up by 0.27%, positioned at $40.63.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 3 days.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Zions Bancorp options trades with real-time alerts from Benzinga Pro.
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