Investors with a lot of money to spend have taken a bearish stance on Ferrari RACE.
And retail traders should know.
We noticed this today when the trades 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 RACE, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 9 uncommon options trades for Ferrari.
This isn't normal.
The overall sentiment of these big-money traders is split between 33% bullish and 66%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $241,090, and 4 are calls, for a total amount of $515,250.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $265.0 to $410.0 for Ferrari during the past quarter.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Ferrari stands at 71.75, with a total volume reaching 308.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Ferrari, situated within the strike price corridor from $265.0 to $410.0, throughout the last 30 days.
Ferrari Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| RACE | CALL | TRADE | BEARISH | 02/16/24 | $265.00 | $235.2K | 0 | 0 |
| RACE | CALL | SWEEP | BULLISH | 02/02/24 | $360.00 | $153.4K | 164 | 150 |
| RACE | CALL | TRADE | BEARISH | 02/02/24 | $360.00 | $81.0K | 164 | 0 |
| RACE | PUT | TRADE | BULLISH | 05/17/24 | $410.00 | $80.2K | 8 | 21 |
| RACE | PUT | TRADE | BEARISH | 08/16/24 | $370.00 | $50.7K | 52 | 26 |
About Ferrari
Ferrari engineers and manufactures some of the world's most expensive exotic sports cars. The Ferrari brand is synonymous with Formula One racing, exclusivity, Italian design, and state-of-the-art technology. Ferrari also has a captive finance company that provides funding for dealers and clients. In 2022, Europe, Middle East, and Africa accounted for 48% of revenue, the Americas was 28%, China was 12%, and the rest of Asia was 12%.
After a thorough review of the options trading surrounding Ferrari, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Ferrari's Current Market Status
- Trading volume stands at 159,890, with RACE's price down by -2.34%, positioned at $380.34.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 90 days.
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 Ferrari with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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