HashiCorp Unusual Options Activity For March 15

Investors with a lot of money to spend have taken a bullish stance on HashiCorp HCP.

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 HCP, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 13 options trades for HashiCorp.

This isn't normal.

The overall sentiment of these big-money traders is split between 53% bullish and 46%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $28,573, and 12, calls, for a total amount of $564,084.

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 $24.0 to $28.0 for HashiCorp over the last 3 months.

Analyzing Volume & Open Interest

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 HashiCorp'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 HashiCorp's whale activity within a strike price range from $24.0 to $28.0 in the last 30 days.

HashiCorp Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

About HashiCorp

HashiCorp Inc is engaged in solving the infrastructure challenges of cloud adoption by enabling an operating model that unlocks the full potential of modern public and private clouds. Its cloud operating model provides consistent workflows and a standardized approach to automate the processes involved in delivering applications in the cloud: infrastructure provisioning, security, networking, and application deployment. Its main commercial products are Terraform, Vault, Consul, and Nomad.

Where Is HashiCorp Standing Right Now?

• Trading volume stands at 5,344,712, with HCP's price up by 2.95%, positioned at $26.5.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 82 days.

What Analysts Are Saying About HashiCorp

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $29.0.

• An analyst from Stifel persists with their Buy rating on HashiCorp, maintaining a target price of $28.
• An analyst from BTIG persists with their Buy rating on HashiCorp, maintaining a target price of $27.
• An analyst from Oppenheimer has decided to maintain their Outperform rating on HashiCorp, which currently sits at a price target of $34.
• Maintaining their stance, an analyst from TD Cowen continues to hold a Market Perform rating for HashiCorp, targeting a price of $26.
• Maintaining their stance, an analyst from Needham continues to hold a Buy rating for HashiCorp, targeting a price of $30.

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 HashiCorp options trades with real-time alerts from Benzinga Pro.