Investors with a lot of money to spend have taken a bearish stance on Deckers Outdoor DECK.
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 DECK, 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 16 uncommon options trades for Deckers Outdoor.
This isn't normal.
The overall sentiment of these big-money traders is split between 43% bullish and 56%, bearish.
Out of all of the special options we uncovered, 11 are puts, for a total amount of $1,025,403, and 5 are calls, for a total amount of $209,940.
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 $840.0 to $1020.0 for Deckers Outdoor during the past quarter.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Deckers Outdoor stands at 78.55, with a total volume reaching 466.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Deckers Outdoor, situated within the strike price corridor from $840.0 to $1020.0, throughout the last 30 days.
Deckers Outdoor 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DECK | PUT | SWEEP | NEUTRAL | 04/19/24 | $54.8 | $50.5 | $50.6 | $935.00 | $263.1K | 27 | 104 |
| DECK | PUT | SWEEP | BULLISH | 04/19/24 | $33.0 | $33.0 | $33.0 | $935.00 | $165.0K | 27 | 50 |
| DECK | PUT | TRADE | BEARISH | 08/16/24 | $51.4 | $48.8 | $50.6 | $840.00 | $111.3K | 0 | 0 |
| DECK | PUT | TRADE | NEUTRAL | 08/16/24 | $52.2 | $50.2 | $51.2 | $840.00 | $92.1K | 0 | 64 |
| DECK | PUT | TRADE | BEARISH | 08/16/24 | $52.2 | $50.5 | $51.7 | $840.00 | $82.7K | 0 | 64 |
About Deckers Outdoor
Deckers Outdoor Corp designs and sells casual and performance footwear, apparel, and accessories. Primary brands include UGG, Teva, and Sanuk. The company distributes Most of its products through its wholesale business, but it also has a substantial direct-to-consumer business with its company-owned retail stores and websites. Most sales are in the United States, although the company also has retail stores and distributors throughout Europe, Asia, Canada, and Latin America. Deckers sources its products from independent manufacturers primarily in Asia.
After a thorough review of the options trading surrounding Deckers Outdoor, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Deckers Outdoor
- Trading volume stands at 148,046, with DECK's price down by -0.9%, positioned at $922.11.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 51 days.
What The Experts Say On Deckers Outdoor
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $1036.6666666666667.
- An analyst from Barclays has revised its rating downward to Overweight, adjusting the price target to $1110.
- An analyst from TD Cowen has decided to maintain their Outperform rating on Deckers Outdoor, which currently sits at a price target of $1000.
- Maintaining their stance, an analyst from Wedbush continues to hold a Outperform rating for Deckers Outdoor, targeting a price of $1000.
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 Deckers Outdoor 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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