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 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 CPNG, 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 8 uncommon 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 special options we uncovered, 2 are puts, for a total amount of $66,875, and 6 are calls, for a total amount of $359,634.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $5.0 to $27.0 for Coupang during the past quarter.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Coupang stands at 14529.67, with a total volume reaching 3,119.00. 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 $5.0 to $27.0, throughout the last 30 days.
Coupang 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CPNG | CALL | SWEEP | BEARISH | 11/15/24 | $3.3 | $3.25 | $3.25 | $21.00 | $97.5K | 72 | 300 |
| CPNG | CALL | SWEEP | BEARISH | 01/17/25 | $4.35 | $4.25 | $4.25 | $20.00 | $73.9K | 2.6K | 176 |
| CPNG | CALL | TRADE | BULLISH | 08/16/24 | $11.45 | $11.15 | $11.41 | $11.00 | $70.7K | 81 | 93 |
| CPNG | CALL | SWEEP | BEARISH | 05/17/24 | $0.24 | $0.21 | $0.22 | $22.50 | $44.9K | 84.0K | 2.2K |
| CPNG | CALL | TRADE | BEARISH | 01/16/26 | $18.95 | $18.4 | $18.4 | $5.00 | $36.8K | 100 | 20 |
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.
Coupang's Current Market Status
- With a trading volume of 3,726,649, the price of CPNG is up by 0.2%, reaching $22.27.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 84 days from now.
What Analysts Are Saying About Coupang
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $27.25.
- An analyst from Mizuho persists with their Neutral rating on Coupang, maintaining a target price of $23.
- An analyst from Barclays persists with their Overweight rating on Coupang, maintaining a target price of $32.
- An analyst from Citigroup upgraded its action to Buy with a price target of $26.
- Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Coupang, targeting a price of $28.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Coupang with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
