A Closer Look at Coherent's Options Market Dynamics

Investors with a lot of money to spend have taken a bearish stance on Coherent COHR.

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 COHR, 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 8 uncommon options trades for Coherent.

This isn't normal.

The overall sentiment of these big-money traders is split between 37% bullish and 62%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $334,027, and 6 are calls, for a total amount of $1,099,673.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $65.0 to $75.0 for Coherent over the recent three months.

Volume & Open Interest Trends

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Coherent's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Coherent's substantial trades, within a strike price spectrum from $65.0 to $75.0 over the preceding 30 days.

Coherent 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

About Coherent

Coherent Corp manufactures engineered materials, optoelectronic components and products used in industrial, optical communications, military, semiconductor, consumer, and life science applications. The firm operates in two segments Photonic Solutions Segment and Compound Semiconductors Segment. The Photonic Solutions Segment leverages II-VI's compound semiconductor technology platforms to deliver components and subsystems. The Compound Semiconductors Segment is a market leader in differentiated materials and devices.

In light of the recent options history for Coherent, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Coherent's Current Market Status

• With a volume of 151,329, the price of COHR is up 1.83% at $59.03.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 69 days.

Expert Opinions on Coherent

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $66.2.

• Consistent in their evaluation, an analyst from Stifel keeps a Buy rating on Coherent with a target price of $58.
• An analyst from Benchmark persists with their Buy rating on Coherent, maintaining a target price of $65.
• Consistent in their evaluation, an analyst from Stifel keeps a Buy rating on Coherent with a target price of $68.
• Consistent in their evaluation, an analyst from Needham keeps a Buy rating on Coherent with a target price of $64.
• An analyst from Rosenblatt has decided to maintain their Buy rating on Coherent, which currently sits at a price target of $76.

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 Coherent with Benzinga Pro for real-time alerts.