Investors with a lot of money to spend have taken a bearish stance on Northrop Grumman NOC.
And retail traders should know.
We noticed this today when the positions 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 NOC, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 10 options trades for Northrop Grumman.
This isn't normal.
The overall sentiment of these big-money traders is split between 40% bullish and 60%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $28,140, and 9, calls, for a total amount of $395,247.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $430.0 to $505.0 for Northrop Grumman over the recent three months.
Volume & Open Interest Trends
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 Northrop Grumman'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 Northrop Grumman's whale trades within a strike price range from $430.0 to $505.0 in the last 30 days.
Northrop Grumman 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NOC | CALL | SWEEP | BEARISH | 06/21/24 | $12.1 | $11.9 | $12.0 | $470.00 | $97.2K | 1.1K | 157 |
| NOC | CALL | SWEEP | BEARISH | 06/21/24 | $11.4 | $11.1 | $11.4 | $470.00 | $71.6K | 1.1K | 3 |
| NOC | CALL | SWEEP | NEUTRAL | 06/21/24 | $11.5 | $11.5 | $11.5 | $470.00 | $41.4K | 1.1K | 108 |
| NOC | CALL | SWEEP | BULLISH | 06/21/24 | $12.3 | $12.1 | $12.3 | $470.00 | $35.6K | 1.1K | 300 |
| NOC | CALL | TRADE | BEARISH | 01/17/25 | $36.6 | $32.7 | $34.0 | $470.00 | $34.0K | 130 | 0 |
About Northrop Grumman
Northrop Grumman is a diversified defense contractor providing aeronautics, defense, and space systems. The company's aerospace segment creates the fuselage for the massive F-35 program and produces autonomous and piloted aircraft such as Global Hawk drones and the new B-21 bomber. Defense systems makes artillery and missile ammunition and guidance systems, missile defense systems, and conducts maintenance and upgrades on numerous military aircraft. Mission systems creates and integrates a variety of radar, navigation, and communication systems for avionics, weapons control, and countermeasures on a range of platforms from helicopters to destroyers. Finally, space systems produces satellites, sensors, space structures, and manufactures long-range missiles and rocket motors.
Following our analysis of the options activities associated with Northrop Grumman, we pivot to a closer look at the company's own performance.
Northrop Grumman's Current Market Status
- With a trading volume of 264,605, the price of NOC is up by 1.5%, reaching $459.28.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 6 days from now.
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 Northrop Grumman with Benzinga Pro for real-time alerts.
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