Deep-pocketed investors have adopted a bearish approach towards Globe Life GL, 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 GL usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 38 extraordinary options activities for Globe Life. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 34% leaning bullish and 65% bearish. Among these notable options, 36 are puts, totaling $3,270,603, and 2 are calls, amounting to $90,468.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $90.0 to $120.0 for Globe Life over the recent three months.
Analyzing Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Globe Life's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Globe Life's significant trades, within a strike price range of $90.0 to $120.0, over the past month.
Globe Life Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GL | PUT | TRADE | BEARISH | 05/17/24 | $7.0 | $6.5 | $6.8 | $90.00 | $318.9K | 1.1K | 528 |
| GL | PUT | TRADE | BULLISH | 04/19/24 | $20.3 | $18.3 | $18.5 | $110.00 | $185.0K | 3.5K | 331 |
| GL | PUT | SWEEP | BEARISH | 04/19/24 | $17.0 | $16.6 | $17.0 | $110.00 | $170.0K | 3.5K | 80 |
| GL | PUT | TRADE | BULLISH | 04/19/24 | $20.0 | $18.8 | $19.0 | $105.00 | $152.0K | 1.6K | 898 |
| GL | PUT | SWEEP | BULLISH | 04/19/24 | $30.5 | $29.9 | $29.9 | $120.00 | $149.5K | 1.6K | 434 |
About Globe Life
Globe Life Inc is an insurance holding company. It provides a variety of life and supplemental health insurance products and annuities to a broad base of customers. The company's core operations are organized into four reportable segments: life insurance, supplemental health insurance, annuities, and investments. Investment activities, conducted by the investment segment, focus on seeking investments with a yield and term appropriate to support the insurance product obligations. These investments generally consist of fixed maturities and, over the long term, the expected yields are considered when setting insurance premium rates and product profitability expectations.
Following our analysis of the options activities associated with Globe Life, we pivot to a closer look at the company's own performance.
Where Is Globe Life Standing Right Now?
- With a trading volume of 1,280,796, the price of GL is down by -15.4%, reaching $88.77.
- Current RSI values indicate that the stock is may be oversold.
- Next earnings report is scheduled for 11 days from now.
Professional Analyst Ratings for Globe Life
In the last month, 3 experts released ratings on this stock with an average target price of $128.33333333333334.
- An analyst from Evercore ISI Group persists with their In-Line rating on Globe Life, maintaining a target price of $125.
- Consistent in their evaluation, an analyst from Piper Sandler keeps a Overweight rating on Globe Life with a target price of $130.
- Maintaining their stance, an analyst from Keefe, Bruyette & Woods continues to hold a Market Perform rating for Globe Life, targeting a price of $130.
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 Globe Life with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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