Investors with a lot of money to spend have taken a bearish stance on Enphase Energy ENPH.
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 ENPH, 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 10 uncommon options trades for Enphase Energy.
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, 2 are puts, for a total amount of $193,000, and 8 are calls, for a total amount of $394,826.
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 $60.0 to $160.0 for Enphase Energy over the last 3 months.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Enphase Energy's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Enphase Energy's substantial trades, within a strike price spectrum from $60.0 to $160.0 over the preceding 30 days.
Enphase Energy 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 |
|---|---|---|---|---|---|---|---|---|
| ENPH | PUT | SWEEP | BEARISH | 04/19/24 | $160.00 | $148.0K | 92 | 40 |
| ENPH | CALL | TRADE | BEARISH | 04/19/24 | $160.00 | $78.0K | 1.1K | 647 |
| ENPH | CALL | TRADE | BEARISH | 05/17/24 | $125.00 | $59.2K | 683 | 61 |
| ENPH | CALL | TRADE | BULLISH | 01/17/25 | $140.00 | $49.4K | 1.9K | 1 |
| ENPH | CALL | SWEEP | BULLISH | 03/22/24 | $135.00 | $49.1K | 1.1K | 793 |
About Enphase Energy
Enphase Energy is a global energy technology company. The company delivers smart, easy-to-use solutions that manage solar generation, storage, and communication on one platform. The company's microinverter technology primarily serves the rooftop solar market and produces a fully integrated solar-plus-storage solution. Geographically, it derives a majority of revenue from the United States.
After a thorough review of the options trading surrounding Enphase Energy, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Enphase Energy
- With a trading volume of 399,307, the price of ENPH is down by -0.84%, reaching $127.61.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 42 days from now.
What Analysts Are Saying About Enphase Energy
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $126.5.
- An analyst from RBC Capital has revised its rating downward to Outperform, adjusting the price target to $140.
- Consistent in their evaluation, an analyst from Piper Sandler keeps a Neutral rating on Enphase Energy with a target price of $113.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Enphase Energy, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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