Investors with a lot of money to spend have taken a bearish stance on GigaCloud Tech GCT.
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 GCT, 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 10 uncommon options trades for GigaCloud Tech.
This isn't normal.
The overall sentiment of these big-money traders is split between 30% bullish and 70%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $82,800, and 8 are calls, for a total amount of $335,365.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $15.0 and $35.0 for GigaCloud Tech, spanning the last three months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for GigaCloud Tech'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 GigaCloud Tech's whale trades within a strike price range from $15.0 to $35.0 in the last 30 days.
GigaCloud Tech 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GCT | CALL | TRADE | BEARISH | 04/19/24 | $5.5 | $5.0 | $5.05 | $30.00 | $50.5K | 2.6K | 103 |
| GCT | CALL | TRADE | BEARISH | 04/19/24 | $5.2 | $4.8 | $4.87 | $30.00 | $48.7K | 2.6K | 203 |
| GCT | CALL | TRADE | NEUTRAL | 04/19/24 | $4.6 | $4.2 | $4.4 | $30.00 | $44.0K | 2.6K | 342 |
| GCT | PUT | TRADE | NEUTRAL | 10/18/24 | $8.4 | $8.2 | $8.3 | $30.00 | $41.5K | 443 | 53 |
| GCT | PUT | TRADE | BULLISH | 10/18/24 | $8.5 | $8.2 | $8.26 | $30.00 | $41.3K | 443 | 133 |
About GigaCloud Tech
GigaCloud Technology Inc end-to-end B2B e-commerce solutions for large parcel merchandise. Its B2B e-commerce platform, which is referred to as the GigaCloud Marketplace, integrates everything from discovery, payments, and logistics tools into one easy-to-use platform. It offers online and offline integrated cross-border transaction and delivery services for furniture and large merchandise. Its marketplace seamlessly connects manufacturers in Asia, with resellers in the U.S., Asia, and Europe, to execute cross-border transactions with confidence, speed, and efficiency. It offers a truly comprehensive solution that transports products from the manufacturer's warehouse to end customers, all at one fixed price.
Where Is GigaCloud Tech Standing Right Now?
- With a volume of 1,869,571, the price of GCT is up 1.38% at $35.23.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 44 days.
What The Experts Say On GigaCloud Tech
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $35.0.
- An analyst from Roth MKM persists with their Buy rating on GigaCloud Tech, maintaining a target price of $35.
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 GigaCloud Tech with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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