Decoding iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist)'s Options Activity: What's the Big Picture?

Investors with a lot of money to spend have taken a bearish stance on iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist) WING.

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 WING, 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 20 uncommon options trades for iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist).

This isn't normal.

The overall sentiment of these big-money traders is split between 40% bullish and 60%, bearish.

Out of all of the special options we uncovered, 15 are puts, for a total amount of $1,796,707, and 5 are calls, for a total amount of $210,768.

Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $90.0 to $400.0 for iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist) during the past quarter.

Volume & Open Interest Trends

In terms of liquidity and interest, the mean open interest for iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist) options trades today is 404.9 with a total volume of 2,809.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist)'s big money trades within a strike price range of $90.0 to $400.0 over the last 30 days.

iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist) Option Volume And Open Interest Over Last 30 Days

Noteworthy Options Activity:

About iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist)

Founded in 1994 in Garland, Texas, Wingstop is a restaurant operator specializing in indulgent bone-in and boneless chicken wings, chicken tenders, fries, and, recently, chicken sandwiches. The firm's footprint has grown quickly since its inception, reaching north of 2,200 global stores at the end of 2023, rendering Wingstop the 31st-largest restaurant brand in the U.S. by system sales, according to Euromonitor data. With a 98% franchised model, Wingstop generates the lion share of its revenue from franchise royalties and advertising fees, with the remainder derived from a small footprint of company-owned stores.

In light of the recent options history for iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist), it's now appropriate to focus on the company itself. We aim to explore its current performance.

Present Market Standing of iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist)

• With a volume of 612,182, the price of WING is down -0.42% at $352.5.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 51 days.

What The Experts Say On iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist)

In the last month, 5 experts released ratings on this stock with an average target price of $343.4.

• An analyst from Baird has decided to maintain their Outperform rating on iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist), which currently sits at a price target of $320.
• Consistent in their evaluation, an analyst from TD Cowen keeps a Outperform rating on iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist) with a target price of $355.
• Consistent in their evaluation, an analyst from TD Cowen keeps a Outperform rating on iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist) with a target price of $410.
• An analyst from Truist Securities persists with their Hold rating on iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist), maintaining a target price of $292.
• An analyst from Bernstein downgraded its action to Outperform with a price target of $340.

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 iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist) with Benzinga Pro for real-time alerts.