High-rolling investors have positioned themselves bullish on Akamai Techs AKAM, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in AKAM often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for Akamai Techs. This is not a typical pattern.
The sentiment among these major traders is split, with 50% bullish and 37% bearish. Among all the options we identified, there was one put, amounting to $68,176, and 7 calls, totaling $642,466.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $100.0 to $101.0 for Akamai Techs over the last 3 months.
Volume & Open Interest Trends
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Akamai Techs's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Akamai Techs's significant trades, within a strike price range of $100.0 to $101.0, over the past month.
Akamai Techs 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AKAM | CALL | SWEEP | BULLISH | 05/17/24 | $4.7 | $4.0 | $4.3 | $101.00 | $208.9K | 84 | 208 |
| AKAM | CALL | TRADE | NEUTRAL | 05/17/24 | $4.6 | $4.2 | $4.4 | $101.00 | $134.6K | 84 | 1.0K |
| AKAM | CALL | SWEEP | BEARISH | 05/17/24 | $4.3 | $4.2 | $4.2 | $101.00 | $84.0K | 84 | 200 |
| AKAM | CALL | SWEEP | BULLISH | 05/17/24 | $4.8 | $4.6 | $4.8 | $101.00 | $81.6K | 84 | 1.3K |
| AKAM | PUT | SWEEP | BULLISH | 11/15/24 | $8.8 | $8.4 | $8.5 | $100.00 | $68.1K | 132 | 80 |
About Akamai Techs
Akamai operates a content delivery network, or CDN, which entails locating servers at the edges of networks so its customers, which store content on Akamai servers, can reach their own customers faster, more securely, and with better quality. Akamai has over 325,000 servers distributed over 4,100 points of presence in more than 1,000 cities worldwide. The firm also offers security and cloud computing for its customers, and those businesses have grown to be bigger than the legacy CDN.
Having examined the options trading patterns of Akamai Techs, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of Akamai Techs
- With a volume of 256,446, the price of AKAM is up 1.55% at $101.22.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 3 days.
Professional Analyst Ratings for Akamai Techs
1 market experts have recently issued ratings for this stock, with a consensus target price of $117.0.
- An analyst from Citigroup has decided to maintain their Neutral rating on Akamai Techs, which currently sits at a price target of $117.
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 Akamai Techs 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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