Deep-pocketed investors have adopted a bullish approach towards Coupang CPNG, 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 CPNG usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for Coupang. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 44% leaning bullish and 44% bearish. Among these notable options, 3 are puts, totaling $195,321, and 6 are calls, amounting to $228,421.
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 $20.0 and $30.0 for Coupang, spanning the last 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 Coupang'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 Coupang's whale trades within a strike price range from $20.0 to $30.0 in the last 30 days.
Coupang Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CPNG | CALL | SWEEP | BEARISH | 08/16/24 | $3.9 | $3.8 | $3.8 | $20.00 | $83.6K | 4.7K | 221 |
| CPNG | PUT | TRADE | BEARISH | 07/19/24 | $3.1 | $2.98 | $3.1 | $25.00 | $81.2K | 148 | 262 |
| CPNG | PUT | SWEEP | BULLISH | 08/16/24 | $5.8 | $5.65 | $5.7 | $28.00 | $78.6K | 17 | 151 |
| CPNG | PUT | SWEEP | BEARISH | 04/26/24 | $0.36 | $0.33 | $0.36 | $23.00 | $35.4K | 72 | 1.0K |
| CPNG | CALL | SWEEP | BULLISH | 08/16/24 | $1.14 | $1.11 | $1.14 | $26.00 | $33.6K | 355 | 433 |
About Coupang
Coupang Inc is an e-commerce company. It sells apparel, electronics, footwear, food products, furniture, nutritional supplements, and other products. Its segments include Product Commerce and Developing Offerings. The company generates maximum revenue from the Product Commerce segment. Product Commerce includes core retail (owned inventory) and marketplace offerings (third-party merchants) and Rocket Fresh, fresh grocery offering, as well as advertising products associated with these offerings.
Where Is Coupang Standing Right Now?
- Trading volume stands at 10,570,905, with CPNG's price up by 1.47%, positioned at $22.79.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 14 days.
Professional Analyst Ratings for Coupang
In the last month, 1 experts released ratings on this stock with an average target price of $26.0.
- An analyst from Citigroup has elevated its stance to Buy, setting a new price target at $26.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Coupang options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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