High-rolling investors have positioned themselves bearish on SoundHound AI SOUN, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in SOUN often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 11 options trades for SoundHound AI. This is not a typical pattern.
The sentiment among these major traders is split, with 36% bullish and 63% bearish. Among all the options we identified, there was one put, amounting to $32,000, and 10 calls, totaling $730,780.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $5.0 to $12.0 for SoundHound AI over the last 3 months.
Insights into 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 SoundHound AI's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to SoundHound AI's substantial trades, within a strike price spectrum from $5.0 to $12.0 over the preceding 30 days.
SoundHound AI Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SOUN | CALL | SWEEP | BEARISH | 04/19/24 | $7.50 | $195.0K | 157 | 1.0K |
| SOUN | CALL | SWEEP | BEARISH | 03/28/24 | $6.00 | $110.0K | 2.8K | 1.0K |
| SOUN | CALL | SWEEP | BEARISH | 03/28/24 | $6.00 | $110.0K | 2.8K | 529 |
| SOUN | CALL | TRADE | BULLISH | 03/28/24 | $6.00 | $109.7K | 2.8K | 1.0K |
| SOUN | CALL | TRADE | BULLISH | 07/19/24 | $9.00 | $47.0K | 1.9K | 1 |
About SoundHound AI
SoundHound AI Inc is an innovator of conversational intelligence, offering an independent Voice AI platform that enables businesses across industries to deliver high-quality conversational experiences to customers.
Having examined the options trading patterns of SoundHound AI, 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 SoundHound AI
- With a volume of 33,621,642, the price of SOUN is down -3.72% at $8.02.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 50 days.
What The Experts Say On SoundHound AI
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $7.76.
- Consistent in their evaluation, an analyst from Cantor Fitzgerald keeps a Overweight rating on SoundHound AI with a target price of $5.
- Maintaining their stance, an analyst from DA Davidson continues to hold a Buy rating for SoundHound AI, targeting a price of $7.
- Consistent in their evaluation, an analyst from DA Davidson keeps a Buy rating on SoundHound AI with a target price of $9.
- Maintaining their stance, an analyst from Wedbush continues to hold a Outperform rating for SoundHound AI, targeting a price of $9.
- An analyst from HC Wainwright & Co. has decided to maintain their Buy rating on SoundHound AI, which currently sits at a price target of $7.
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 SoundHound AI options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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