Deep-pocketed investors have adopted a bearish approach towards Zions Bancorp ZION, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in ZION usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for Zions Bancorp. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 10% leaning bullish and 90% bearish. Among these notable options, 5 are puts, totaling $443,370, and 5 are calls, amounting to $294,299.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $25.0 and $42.5 for Zions Bancorp, spanning the last three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Zions Bancorp options trades today is 1249.2 with a total volume of 6,676.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Zions Bancorp's big money trades within a strike price range of $25.0 to $42.5 over the last 30 days.
Zions Bancorp 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ZION | PUT | SWEEP | BULLISH | 05/17/24 | $2.9 | $2.9 | $2.9 | $42.50 | $145.0K | 557 | 1.7K |
| ZION | PUT | SWEEP | BEARISH | 05/17/24 | $2.85 | $2.75 | $2.85 | $42.50 | $114.0K | 557 | 1.2K |
| ZION | CALL | SWEEP | BEARISH | 04/19/24 | $2.05 | $1.95 | $1.95 | $42.50 | $107.6K | 5.0K | 553 |
| ZION | PUT | SWEEP | BEARISH | 05/17/24 | $2.65 | $2.55 | $2.65 | $42.50 | $79.5K | 557 | 601 |
| ZION | PUT | SWEEP | BEARISH | 05/17/24 | $2.4 | $2.35 | $2.4 | $42.50 | $72.0K | 557 | 301 |
About Zions Bancorp
Zions Bancorporation is a regional U.S. bank with core operations that span 11 states. The bank is headquartered in Salt Lake City and does business primarily in the Western and Southwestern United States. Zions primarily focuses on providing banking services to small and midsize businesses, with the bulk of its loans focused on commercial and commercial real estate lending.
In light of the recent options history for Zions Bancorp, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Zions Bancorp
- Trading volume stands at 1,069,520, with ZION's price down by -1.33%, positioned at $41.95.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 18 days.
What Analysts Are Saying About Zions Bancorp
3 market experts have recently issued ratings for this stock, with a consensus target price of $48.666666666666664.
- Maintaining their stance, an analyst from JP Morgan continues to hold a Neutral rating for Zions Bancorp, targeting a price of $52.
- An analyst from Truist Securities persists with their Hold rating on Zions Bancorp, maintaining a target price of $46.
- Consistent in their evaluation, an analyst from Evercore ISI Group keeps a Outperform rating on Zions Bancorp with a target price of $48.
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 Zions Bancorp with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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