Toast Options Trading: A Deep Dive into Market Sentiment

Investors with a lot of money to spend have taken a bullish stance on Toast TOST.

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 TOST, 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 Toast.

This isn't normal.

The overall sentiment of these big-money traders is split between 55% bullish and 44%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $194,579, and 5 are calls, for a total amount of $196,787.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $17.0 to $19.5 for Toast over the last 3 months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Toast stands at 1912.0, with a total volume reaching 7,599.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Toast, situated within the strike price corridor from $17.0 to $19.5, throughout the last 30 days.

Toast Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

About Toast

Toast is a U.S.-based restaurant technology company that provides point-of-sale, payment processing, and various software services to 99,000 restaurant locations across the United States at the end of September 2023. The firm generates sales from software subscription fees, as a percentage take rate from each financial transaction it processes, from loan origination and servicing fees from its Toast Capital arm, and from hardware installation and professional services. Unlike competitors, Toast intermediates every payment transaction on its platform, processing some $92 billion in gross platform volume in 2022. The firm's product offerings span point-of-sale systems, inventory and payroll management, delivery integration, e-commerce ordering, reservation management, and loyalty programs.

Having examined the options trading patterns of Toast, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Where Is Toast Standing Right Now?

• Trading volume stands at 3,592,861, with TOST's price down by -5.05%, positioned at $19.0.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 2 days.

Expert Opinions on Toast

Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $23.5.

• Reflecting concerns, an analyst from RBC Capital lowers its rating to Sector Perform with a new price target of $19.
• An analyst from Redburn Atlantic has elevated its stance to Buy, setting a new price target at $28.

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 Toast with Benzinga Pro for real-time alerts.