Investors with a lot of money to spend have taken a bullish stance on Guardant Health GH.
And retail traders should know.
We noticed this today when the trades 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 GH, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 10 uncommon options trades for Guardant Health.
This isn't normal.
The overall sentiment of these big-money traders is split between 70% bullish and 30%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $267,190, and 6 are calls, for a total amount of $406,670.
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 $17.5 to $20.0 for Guardant Health over the last 3 months.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Guardant Health's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Guardant Health's significant trades, within a strike price range of $17.5 to $20.0, over the past month.
Guardant Health Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GH | CALL | TRADE | BULLISH | 05/17/24 | $2.0 | $1.85 | $2.0 | $20.00 | $100.0K | 9.1K | 25 |
| GH | PUT | SWEEP | BEARISH | 01/17/25 | $2.7 | $2.5 | $2.7 | $17.50 | $80.9K | 552 | 500 |
| GH | CALL | SWEEP | BULLISH | 05/17/24 | $1.65 | $1.5 | $1.65 | $20.00 | $80.1K | 9.1K | 866 |
| GH | CALL | SWEEP | BULLISH | 05/17/24 | $1.6 | $1.55 | $1.6 | $20.00 | $80.1K | 9.1K | 1.3K |
| GH | PUT | SWEEP | BULLISH | 01/17/25 | $4.2 | $3.9 | $3.9 | $20.00 | $78.0K | 1.6K | 200 |
About Guardant Health
Guardant Health, Inc, based in Redwood City, California, is a leader in liquid-based cancer tests for clinical and research use. The company offers Guardant360 LDT, a liquid biopsy test for treatment selection in advanced stage cancer, Guardant360 CDx, an FDA-approved companion diagnostic for several targeted therapies, and Guardant OMNI, a broader gene panel for immuno-oncology research. In 2021, Guardant launched Reveal, a tumor-agnostic molecular residual disease, or MRD, test. In 2022, the company launched a lab-developed test version of Shield, a liquid biopsy for colorectal cancer, or CRC, screening. Additionally, Guardant offers research development services such as regulatory approval consultancy and clinical trial referrals.
Having examined the options trading patterns of Guardant Health, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is Guardant Health Standing Right Now?
- With a volume of 2,772,696, the price of GH is up 10.13% at $21.41.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 83 days.
What The Experts Say On Guardant Health
In the last month, 3 experts released ratings on this stock with an average target price of $28.666666666666668.
- Maintaining their stance, an analyst from Goldman Sachs continues to hold a Buy rating for Guardant Health, targeting a price of $28.
- In a cautious move, an analyst from Craig-Hallum downgraded its rating to Buy, setting a price target of $28.
- Maintaining their stance, an analyst from Canaccord Genuity continues to hold a Buy rating for Guardant Health, targeting a price of $30.
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 Guardant Health, Benzinga Pro gives you real-time options trades alerts.
© 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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