Deep-pocketed investors have adopted a bullish approach towards Paramount Global PARA, 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 PARA usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 16 extraordinary options activities for Paramount Global. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 56% leaning bullish and 43% bearish. Among these notable options, 4 are puts, totaling $299,926, and 12 are calls, amounting to $705,817.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $10.0 to $18.0 for Paramount Global over the recent three 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 Paramount Global's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Paramount Global's substantial trades, within a strike price spectrum from $10.0 to $18.0 over the preceding 30 days.
Paramount Global 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PARA | CALL | SWEEP | BEARISH | 09/20/24 | $1.54 | $1.52 | $1.52 | $13.00 | $241.1K | 7.7K | 1.6K |
| PARA | PUT | SWEEP | BULLISH | 06/21/24 | $4.3 | $4.2 | $4.2 | $16.00 | $125.5K | 93 | 623 |
| PARA | PUT | SWEEP | BULLISH | 06/21/24 | $4.3 | $4.2 | $4.2 | $16.00 | $118.4K | 93 | 23 |
| PARA | CALL | SWEEP | BULLISH | 09/20/24 | $2.03 | $1.94 | $2.03 | $12.00 | $111.4K | 1.2K | 598 |
| PARA | CALL | TRADE | BEARISH | 09/20/24 | $2.19 | $1.96 | $1.99 | $12.00 | $49.7K | 1.2K | 848 |
About Paramount Global
Paramount Global operates in three global business segments: TV media, filmed entertainment, and direct to consumer. The TV media business includes television production studios and various broadcast and cable networks, including CBS, 15 owned CBS affiliates, Paramount, Nickelodeon, MTV, BET, and VH1. Filmed entertainment consists multiple film studios, most importantly Paramount Pictures. The film studios produce and distribute movies that they license to movie theaters and other media outlets. Direct to consumer includes multiple streaming platforms, including Paramount+, which now includes Showtime, Pluto TV, and BET+. Much of the content on Paramount's streaming platforms is created by the production studios housed within the firm's other two business segments.
Having examined the options trading patterns of Paramount Global, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is Paramount Global Standing Right Now?
- Currently trading with a volume of 22,029,608, the PARA's price is up by 1.54%, now at $12.56.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 27 days.
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 Paramount Global with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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