Whales with a lot of money to spend have taken a noticeably bearish stance on Hershey.
Looking at options history for Hershey HSY we detected 9 trades.
If we consider the specifics of each trade, it is accurate to state that 11% of the investors opened trades with bullish expectations and 88% with bearish.
From the overall spotted trades, 7 are puts, for a total amount of $545,613 and 2, calls, for a total amount of $65,985.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $187.5 to $210.0 for Hershey during the past quarter.
Volume & Open Interest Trends
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Hershey'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 Hershey's whale activity within a strike price range from $187.5 to $210.0 in the last 30 days.
Hershey Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HSY | PUT | SWEEP | BEARISH | 06/21/24 | $23.8 | $23.6 | $23.8 | $210.00 | $238.0K | 109 | 100 |
| HSY | PUT | SWEEP | BEARISH | 06/21/24 | $24.1 | $23.9 | $24.1 | $210.00 | $72.3K | 109 | 240 |
| HSY | PUT | SWEEP | BEARISH | 06/21/24 | $23.9 | $23.8 | $23.9 | $210.00 | $71.7K | 109 | 160 |
| HSY | PUT | SWEEP | BEARISH | 06/21/24 | $15.6 | $15.5 | $15.6 | $200.00 | $62.4K | 196 | 40 |
| HSY | CALL | SWEEP | BEARISH | 05/17/24 | $2.7 | $2.6 | $2.65 | $195.00 | $36.3K | 2.2K | 100 |
About Hershey
Hershey is a leading confectionery manufacturer in the us (around a $25 billion market), controlling around 36% of the domestic chocolate space (per Euromonitor). Beyond its namesake label, the firm's mix has expanded over the last 85 years and now consists of 100 brands, including Reese's, Kit Kat, Kisses, and Ice Breakers. Hershey's products are sold in about 80 countries, albeit with just a high-single-digit percentage of sales coming from markets outside the us, including Brazil, India, and Mexico. The firm has sought inorganic opportunities to extend its reach beyond its core confection business, adding Amplify Snack Brands and its Skinny Pop ready-to-eat popcorn to its mix, Pirate Brands, and Dot's Pretzels over the past few years.
After a thorough review of the options trading surrounding Hershey, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Hershey Standing Right Now?
- Currently trading with a volume of 769,418, the HSY's price is down by -0.3%, now at $186.59.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 7 days.
Professional Analyst Ratings for Hershey
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $192.66666666666666.
- Maintaining their stance, an analyst from Wells Fargo continues to hold a Equal-Weight rating for Hershey, targeting a price of $200.
- An analyst from Piper Sandler persists with their Neutral rating on Hershey, maintaining a target price of $179.
- Maintaining their stance, an analyst from Citigroup continues to hold a Neutral rating for Hershey, targeting a price of $199.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Hershey, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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