Decoding First Horizon's Options Activity: What's the Big Picture?

Investors with a lot of money to spend have taken a bearish stance on First Horizon FHN.

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 this is an institution or just a wealthy individual, we don't know. But when something this big happens with FHN, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 8 options trades for First Horizon.

This isn't normal.

The overall sentiment of these big-money traders is split between 25% bullish and 75%, bearish.

Out of all of the options we uncovered, 7 are puts, for a total amount of $377,040, and there was 1 call, for a total amount of $67,500.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $12.0 to $14.0 for First Horizon over the recent three months.

Insights into Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in First Horizon's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to First Horizon's substantial trades, within a strike price spectrum from $12.0 to $14.0 over the preceding 30 days.

First Horizon 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

About First Horizon

First Horizon Corp is the parent company of First Tennessee Bank, a prominent regional bank with about 200 branches around Tennessee. The regional bank is responsible for roughly 65% of its revenue, while capital markets make a 25% contribution. The remainder is split between the firm's non-strategic (wind-down) and corporate operations. First Horizon concentrates on offering a variety of banking products mainly in its home state, where it has the second- largest deposit franchise with a 13% deposit market share.

Where Is First Horizon Standing Right Now?

• Trading volume stands at 4,849,687, with FHN's price down by -0.36%, positioned at $13.76.
• RSI indicators show the stock to be is currently neutral between overbought and oversold.
• Earnings announcement expected in 69 days.

What The Experts Say On First Horizon

In the last month, 2 experts released ratings on this stock with an average target price of $16.0.

• An analyst from UBS has elevated its stance to Buy, setting a new price target at $16.
• An analyst from RBC Capital has revised its rating downward to Sector Perform, adjusting the price target to $16.

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 First Horizon with Benzinga Pro for real-time alerts.