Financial giants have made a conspicuous bearish move on Chewy. Our analysis of options history for Chewy CHWY revealed 12 unusual trades.
Delving into the details, we found 41% of traders were bullish, while 58% showed bearish tendencies. Out of all the trades we spotted, 8 were puts, with a value of $741,074, and 4 were calls, valued at $352,360.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $14.5 to $22.5 for Chewy over the last 3 months.
Insights into 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 Chewy'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 Chewy's whale activity within a strike price range from $14.5 to $22.5 in the last 30 days.
Chewy Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CHWY | PUT | TRADE | BULLISH | 07/19/24 | $17.50 | $267.3K | 6.3K | 1.1K |
| CHWY | CALL | TRADE | BULLISH | 03/22/24 | $20.00 | $189.0K | 2.0K | 8.5K |
| CHWY | PUT | SWEEP | BEARISH | 01/17/25 | $22.50 | $143.6K | 4.2K | 533 |
| CHWY | PUT | SWEEP | BEARISH | 01/17/25 | $22.50 | $80.0K | 4.2K | 0 |
| CHWY | PUT | TRADE | BEARISH | 03/22/24 | $14.50 | $78.3K | 754 | 3.5K |
About Chewy
Chewy is the largest e-commerce pet care retailer in the U.S., generating $10.1 billion in 2022 sales across pet food, treats, hard goods, and pharmacy categories. The firm was founded in 2011, acquired by PetSmart in 2017, and tapped public markets as a standalone company in 2019 after spending a couple of years developing under the aegis of the pet superstore chain. The firm generates sales from pet food, treats, over-the-counter medications, medical prescription fulfillment, and hard goods, like crates, leashes, and bowls.
Having examined the options trading patterns of Chewy, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of Chewy
- Currently trading with a volume of 7,324,116, the CHWY's price is down by -3.05%, now at $16.86.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 2 days.
What Analysts Are Saying About Chewy
2 market experts have recently issued ratings for this stock, with a consensus target price of $26.5.
- Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $25.
- An analyst from JMP Securities downgraded its action to Market Outperform with a price target of $28.
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 Chewy with Benzinga Pro for real-time alerts.
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