Deep-pocketed investors have adopted a bullish approach towards Ferrari RACE, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in RACE usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Ferrari. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 62% leaning bullish and 37% bearish. Among these notable options, 3 are puts, totaling $90,610, and 5 are calls, amounting to $354,286.
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 $300.0 to $470.0 for Ferrari over the last 3 months.
Volume & Open Interest Trends
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Ferrari's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Ferrari's whale trades within a strike price range from $300.0 to $470.0 in the last 30 days.
Ferrari 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| RACE | CALL | TRADE | NEUTRAL | 06/21/24 | $340.00 | $150.6K | 91 | 30 |
| RACE | CALL | TRADE | BEARISH | 03/15/24 | $300.00 | $96.9K | 15 | 0 |
| RACE | CALL | TRADE | BULLISH | 06/21/24 | $400.00 | $42.0K | 319 | 30 |
| RACE | CALL | SWEEP | BULLISH | 01/17/25 | $470.00 | $37.7K | 2 | 34 |
| RACE | PUT | SWEEP | BEARISH | 01/17/25 | $420.00 | $35.7K | 18 | 0 |
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%.
In light of the recent options history for Ferrari, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Ferrari
- Trading volume stands at 137,295, with RACE's price down by -2.16%, positioned at $378.9.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 79 days.
What Analysts Are Saying About Ferrari
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $448.0.
- An analyst from UBS persists with their Buy rating on Ferrari, maintaining a target price of $448.
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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