High-rolling investors have positioned themselves bearish on NetApp NTAP, 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 NTAP often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for NetApp. This is not a typical pattern.
The sentiment among these major traders is split, with 12% bullish and 87% bearish. Among all the options we identified, there was one put, amounting to $51,000, and 7 calls, totaling $715,407.
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 $125.0 for NetApp over the last 3 months.
Insights into Volume & Open Interest
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 NetApp'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 NetApp's whale trades within a strike price range from $100.0 to $125.0 in the last 30 days.
NetApp Option Volume And Open Interest Over 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NTAP | CALL | SWEEP | BEARISH | 07/19/24 | $3.1 | $3.0 | $3.1 | $115.00 | $162.1K | 3.6K | 74 |
| NTAP | CALL | TRADE | BEARISH | 07/19/24 | $3.1 | $2.95 | $3.0 | $115.00 | $149.7K | 3.6K | 1.1K |
| NTAP | CALL | TRADE | BEARISH | 07/19/24 | $2.9 | $2.8 | $2.83 | $115.00 | $134.1K | 3.6K | 2.7K |
| NTAP | CALL | SWEEP | BULLISH | 06/20/25 | $8.8 | $8.5 | $8.8 | $125.00 | $110.0K | 101 | 125 |
| NTAP | CALL | SWEEP | BEARISH | 07/19/24 | $2.95 | $2.9 | $2.95 | $115.00 | $91.1K | 3.6K | 1.2K |
About NetApp
NetApp Inc is a leading provider of enterprise data management and storage solutions. The company's segments include Hybrid Cloud and Public Cloud. It generates maximum revenue from the Hybrid Cloud segment. The Hybrid Cloud segment offers a portfolio of storage management and infrastructure solutions that help customers recast their traditional data centers with the power of cloud. This portfolio is designed to operate with public clouds to unlock the potential of hybrid, multi-cloud operations. Hybrid Cloud is composed of software, hardware, and related support, as well as professional and other services.
After a thorough review of the options trading surrounding NetApp, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of NetApp
- Currently trading with a volume of 1,277,704, the NTAP's price is down by -1.46%, now at $107.88.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 20 days.
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 NetApp options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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