Deep-pocketed investors have adopted a bullish approach towards Enovix ENVX, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in ENVX usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 13 extraordinary options activities for Enovix. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 53% leaning bullish and 38% bearish. Among these notable options, 6 are puts, totaling $302,184, and 7 are calls, amounting to $278,623.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $3.0 to $14.0 for Enovix over the recent three 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 Enovix'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 Enovix's whale trades within a strike price range from $3.0 to $14.0 in the last 30 days.
Enovix Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ENVX | PUT | SWEEP | BEARISH | 06/21/24 | $3.0 | $2.83 | $3.0 | $12.00 | $108.3K | 79 | 1.3K |
| ENVX | CALL | TRADE | BEARISH | 06/20/25 | $3.85 | $3.5 | $3.5 | $10.00 | $70.0K | 628 | 0 |
| ENVX | PUT | SWEEP | BEARISH | 06/21/24 | $3.0 | $2.83 | $3.0 | $12.00 | $65.3K | 79 | 763 |
| ENVX | CALL | SWEEP | BULLISH | 07/19/24 | $1.11 | $1.1 | $1.11 | $11.00 | $48.9K | 6.1K | 489 |
| ENVX | CALL | SWEEP | BULLISH | 05/24/24 | $0.41 | $0.4 | $0.41 | $10.50 | $42.2K | 396 | 1.0K |
About Enovix
Enovix Corp is engaged in the business of advanced silicon-anode lithium-ion battery development and production. It is also developing its 3D cell technology and production process for the electric vehicle and energy storage markets to help enable the widespread utilization of renewable energy.
In light of the recent options history for Enovix, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Enovix
- With a trading volume of 6,851,900, the price of ENVX is up by 4.44%, reaching $9.17.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 71 days from now.
What The Experts Say On Enovix
5 market experts have recently issued ratings for this stock, with a consensus target price of $19.4.
- Maintaining their stance, an analyst from B. Riley Securities continues to hold a Buy rating for Enovix, targeting a price of $16.
- An analyst from Craig-Hallum has decided to maintain their Buy rating on Enovix, which currently sits at a price target of $15.
- Consistent in their evaluation, an analyst from EF Hutton keeps a Buy rating on Enovix with a target price of $24.
- An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $30.
- Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on Enovix with a target price of $12.
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 Enovix 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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