Spotlight on Enphase Energy: Analyzing the Surge in Options Activity

Investors with a lot of money to spend have taken a bullish stance on Enphase Energy ENPH.

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 ENPH, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 10 options trades for Enphase Energy.

This isn't normal.

The overall sentiment of these big-money traders is split between 80% bullish and 20%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $37,000, and 9, calls, for a total amount of $528,928.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $94.0 to $125.0 for Enphase Energy over the last 3 months.

Analyzing 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 Enphase Energy's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Enphase Energy's substantial trades, within a strike price spectrum from $94.0 to $125.0 over the preceding 30 days.

Enphase Energy Option Volume And Open Interest Over Last 30 Days

Significant Options Trades Detected:

About Enphase Energy

Enphase Energy is a global energy technology company. The company delivers smart, easy-to-use solutions that manage solar generation, storage, and communication on one platform. The company's microinverter technology primarily serves the rooftop solar market and produces a fully integrated solar-plus-storage solution. Geographically, it derives a majority of revenue from the United States.

Enphase Energy's Current Market Status

• With a volume of 2,286,281, the price of ENPH is up 0.83% at $117.85.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 74 days.

Professional Analyst Ratings for Enphase Energy

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $126.8.

• Showing optimism, an analyst from Oppenheimer upgrades its rating to Outperform with a revised price target of $133.
• Showing optimism, an analyst from Truist Securities upgrades its rating to Buy with a revised price target of $145.
• Maintaining their stance, an analyst from BMO Capital continues to hold a Market Perform rating for Enphase Energy, targeting a price of $110.
• Maintaining their stance, an analyst from Roth MKM continues to hold a Buy rating for Enphase Energy, targeting a price of $140.
• Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for Enphase Energy, targeting a price of $106.

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 Enphase Energy options trades with real-time alerts from Benzinga Pro.