Investors with a lot of money to spend have taken a bullish stance on Coupang CPNG.
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 CPNG, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 8 options trades for Coupang.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $60,011, and 7, calls, for a total amount of $505,077.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $16.0 to $25.0 for Coupang over the last 3 months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Coupang stands at 1444.14, with a total volume reaching 2,929.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Coupang, situated within the strike price corridor from $16.0 to $25.0, throughout the last 30 days.
Coupang Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CPNG | CALL | SWEEP | BULLISH | 06/21/24 | $6.1 | $6.0 | $6.08 | $16.00 | $121.8K | 147 | 0 |
| CPNG | CALL | SWEEP | BEARISH | 11/15/24 | $4.3 | $4.2 | $4.2 | $19.00 | $121.8K | 187 | 27 |
| CPNG | CALL | SWEEP | BULLISH | 07/19/24 | $1.02 | $1.01 | $1.01 | $22.00 | $80.4K | 1.4K | 848 |
| CPNG | CALL | SWEEP | BULLISH | 07/19/24 | $1.0 | $0.98 | $1.0 | $23.00 | $76.2K | 6.2K | 1.4K |
| CPNG | PUT | SWEEP | BULLISH | 08/16/24 | $3.65 | $3.55 | $3.55 | $25.00 | $60.0K | 238 | 301 |
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.
Having examined the options trading patterns of Coupang, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Coupang
- With a volume of 4,586,380, the price of CPNG is up 2.91% at $22.09.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 89 days.
What Analysts Are Saying About Coupang
In the last month, 4 experts released ratings on this stock with an average target price of $27.25.
- An analyst from Barclays has decided to maintain their Overweight rating on Coupang, which currently sits at a price target of $32.
- In a positive move, an analyst from Citigroup has upgraded their rating to Buy and adjusted the price target to $26.
- An analyst from Mizuho has decided to maintain their Neutral rating on Coupang, which currently sits at a price target of $23.
- An analyst from Citigroup has decided to maintain their Buy rating on Coupang, which currently sits at a price target of $28.
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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