Deep-pocketed investors have adopted a bearish approach towards WESCO Intl WCC, 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 WCC usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for WESCO Intl. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 37% leaning bullish and 62% bearish. Among these notable options, 6 are puts, totaling $217,391, and 2 are calls, amounting to $81,000.
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 $130.0 and $165.0 for WESCO Intl, spanning the last three months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of WESCO Intl stands at 15.0, with a total volume reaching 637.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in WESCO Intl, situated within the strike price corridor from $130.0 to $165.0, throughout the last 30 days.
WESCO Intl 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WCC | PUT | SWEEP | BEARISH | 10/18/24 | $10.8 | $10.5 | $10.7 | $155.00 | $53.9K | 13 | 199 |
| WCC | PUT | SWEEP | BEARISH | 10/18/24 | $10.8 | $10.5 | $10.8 | $155.00 | $45.3K | 13 | 107 |
| WCC | CALL | TRADE | BULLISH | 10/18/24 | $45.5 | $42.7 | $44.4 | $130.00 | $44.4K | 0 | 10 |
| WCC | CALL | TRADE | BULLISH | 08/16/24 | $18.3 | $18.2 | $18.3 | $165.00 | $36.6K | 44 | 20 |
| WCC | PUT | SWEEP | BEARISH | 10/18/24 | $6.6 | $5.7 | $6.6 | $140.00 | $32.3K | 3 | 78 |
About WESCO Intl
Wesco International is an industrial distributor that has three reportable segments, electrical and electronic solutions, communications and security solutions, and utility and broadband solutions. The company offers more than 1.5 million products to its 140,000 active customers through a distribution network of 800 branches, warehouses, and sales offices, including 43 distribution centers. Wesco generates approximately 74% of its sales in the United States, but it has a global reach, with operations in 50 other countries.
Following our analysis of the options activities associated with WESCO Intl, we pivot to a closer look at the company's own performance.
Present Market Standing of WESCO Intl
- With a trading volume of 211,680, the price of WCC is down by -3.35%, reaching $167.0.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 22 days from now.
Professional Analyst Ratings for WESCO Intl
In the last month, 1 experts released ratings on this stock with an average target price of $175.0.
- Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on WESCO Intl with a target price of $175.
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 WESCO Intl with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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