Investors with a lot of money to spend have taken a bullish stance on PureCycle Technologies PCT.
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 PCT, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 11 options trades for PureCycle Technologies.
This isn't normal.
The overall sentiment of these big-money traders is split between 72% bullish and 27%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $51,000, and 10, calls, for a total amount of $430,057.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $4.0 and $20.0 for PureCycle Technologies, spanning the last three months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for PureCycle Technologies'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 PureCycle Technologies's whale activity within a strike price range from $4.0 to $20.0 in the last 30 days.
PureCycle Technologies 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| PCT | CALL | SWEEP | BULLISH | 03/15/24 | $5.00 | $70.0K | 1.6K | 2.3K |
| PCT | CALL | SWEEP | BULLISH | 03/15/24 | $5.00 | $67.5K | 1.6K | 1.8K |
| PCT | CALL | SWEEP | BULLISH | 03/15/24 | $5.00 | $53.0K | 1.6K | 2.9K |
| PCT | CALL | SWEEP | BULLISH | 03/15/24 | $5.00 | $52.1K | 1.6K | 1.3K |
| PCT | PUT | TRADE | BULLISH | 05/17/24 | $4.00 | $51.0K | 3.8K | 750 |
About PureCycle Technologies
PureCycle Technologies Inc holds a global license to commercialize the only patented solvent-based purification recycling technology, developed by The Procter & Gamble Company (P&G), for restoring waste polypropylene (PP) into a virgin-like resin. The proprietary process removes color, odor and other contaminants from recycled feedstock resulting in virgin-like polypropylene suitable for any PP market.
After a thorough review of the options trading surrounding PureCycle Technologies, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of PureCycle Technologies
- Currently trading with a volume of 1,574,214, the PCT's price is up by 2.14%, now at $6.2.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 2 days.
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 PureCycle Technologies options trades with real-time alerts from Benzinga Pro.
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