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 21 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 28% leaning bullish and 71% bearish. Among these notable options, 11 are puts, totaling $632,819, and 10 are calls, amounting to $609,786.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $35.0 and $95.0 for Globe Life, spanning the last three months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Globe Life options trades today is 875.11 with a total volume of 3,523.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Globe Life's big money trades within a strike price range of $35.0 to $95.0 over the last 30 days.
Globe Life 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GL | CALL | TRADE | BEARISH | 08/16/24 | $15.6 | $14.5 | $14.5 | $55.00 | $145.0K | 66 | 15 |
| GL | CALL | TRADE | BEARISH | 05/17/24 | $11.8 | $11.6 | $11.6 | $50.00 | $116.0K | 227 | 108 |
| GL | PUT | TRADE | NEUTRAL | 04/19/24 | $36.1 | $34.1 | $35.08 | $95.00 | $105.2K | 3.4K | 1 |
| GL | PUT | SWEEP | BULLISH | 04/19/24 | $5.1 | $3.4 | $5.0 | $60.00 | $91.0K | 1.0K | 2 |
| GL | PUT | TRADE | NEUTRAL | 04/19/24 | $25.6 | $24.5 | $25.08 | $85.00 | $75.2K | 376 | 30 |
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.
Globe Life's Current Market Status
- Currently trading with a volume of 2,139,050, the GL's price is down by -3.27%, now at $57.16.
- RSI readings suggest the stock is currently may be oversold.
- Anticipated earnings release is in 7 days.
What Analysts Are Saying About Globe Life
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $118.4.
- Maintaining their stance, an analyst from Evercore ISI Group continues to hold a In-Line rating for Globe Life, targeting a price of $75.
- Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Globe Life, targeting a price of $132.
- An analyst from Piper Sandler has decided to maintain their Overweight rating on Globe Life, which currently sits at a price target of $130.
- Consistent in their evaluation, an analyst from Truist Securities keeps a Hold rating on Globe Life with a target price of $125.
- An analyst from Keefe, Bruyette & Woods persists with their Market Perform rating on Globe Life, maintaining a target 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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