High-rolling investors have positioned themselves bearish on Dow DOW, 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 DOW often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 9 options trades for Dow. This is not a typical pattern.
The sentiment among these major traders is split, with 22% bullish and 77% bearish. Among all the options we identified, there was one put, amounting to $85,497, and 8 calls, totaling $1,183,386.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $40.0 to $65.0 for Dow 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 Dow's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Dow's substantial trades, within a strike price spectrum from $40.0 to $65.0 over the preceding 30 days.
Dow Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DOW | CALL | SWEEP | BEARISH | 06/21/24 | $3.2 | $3.1 | $3.1 | $57.50 | $310.0K | 9.0K | 1.0K |
| DOW | CALL | SWEEP | NEUTRAL | 05/17/24 | $1.21 | $1.2 | $1.2 | $60.00 | $298.3K | 9.0K | 2.9K |
| DOW | CALL | TRADE | BEARISH | 06/21/24 | $3.15 | $3.05 | $3.05 | $57.50 | $152.5K | 9.0K | 1.0K |
| DOW | CALL | SWEEP | BEARISH | 06/21/24 | $3.15 | $3.05 | $3.05 | $57.50 | $152.1K | 9.0K | 2.0K |
| DOW | CALL | TRADE | BEARISH | 01/16/26 | $20.75 | $19.55 | $19.55 | $40.00 | $140.7K | 79 | 0 |
About Dow
Dow Chemical is a diversified global chemicals producer, formed in 2019 as a result of the DowDuPont merger and subsequent separations. The firm is a leading producer of several chemicals, including polyethylene, ethylene oxide, and silicone rubber. Its products have numerous applications in both consumer and industrial end markets.
In light of the recent options history for Dow, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Dow Standing Right Now?
- Currently trading with a volume of 2,172,287, the DOW's price is down by -1.45%, now at $59.0.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 15 days.
Expert Opinions on Dow
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $64.0.
- Maintaining their stance, an analyst from Citigroup continues to hold a Neutral rating for Dow, targeting a price of $60.
- Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Dow, targeting a price of $68.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Dow, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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