Whales with a lot of money to spend have taken a noticeably bearish stance on Paramount Global.
Looking at options history for Paramount Global PARA we detected 17 trades.
If we consider the specifics of each trade, it is accurate to state that 29% of the investors opened trades with bullish expectations and 64% with bearish.
From the overall spotted trades, 8 are puts, for a total amount of $245,388 and 9, calls, for a total amount of $556,810.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $10.0 to $17.5 for Paramount Global over the recent three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Paramount Global options trades today is 19680.9 with a total volume of 33,505.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Paramount Global's big money trades within a strike price range of $10.0 to $17.5 over the last 30 days.
Paramount Global Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PARA | CALL | TRADE | BEARISH | 06/21/24 | $0.46 | $0.42 | $0.43 | $14.00 | $215.0K | 29.9K | 6.0K |
| PARA | CALL | SWEEP | BEARISH | 06/21/24 | $3.45 | $3.25 | $3.31 | $10.00 | $79.4K | 9.6K | 788 |
| PARA | CALL | TRADE | BEARISH | 01/17/25 | $1.24 | $1.01 | $1.1 | $15.00 | $55.0K | 26.4K | 564 |
| PARA | CALL | SWEEP | BULLISH | 05/17/24 | $0.44 | $0.41 | $0.41 | $13.00 | $38.2K | 17.5K | 1.6K |
| PARA | PUT | SWEEP | BULLISH | 01/17/25 | $0.95 | $0.74 | $0.74 | $10.00 | $37.4K | 12.8K | 500 |
About Paramount Global
Paramount Global operates in three global business segments: TV media, filmed entertainment, and direct to consumer. The TV media business includes television production studios and various broadcast and cable networks, including CBS, 15 owned CBS affiliates, Paramount, Nickelodeon, MTV, BET, and VH1. Filmed entertainment consists multiple film studios, most importantly Paramount Pictures. The film studios produce and distribute movies that they license to movie theaters and other media outlets. Direct to consumer includes multiple streaming platforms, including Paramount+, which now includes Showtime, Pluto TV, and BET+. Much of the content on Paramount's streaming platforms is created by the production studios housed within the firm's other two business segments.
In light of the recent options history for Paramount Global, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Paramount Global
- With a volume of 23,281,647, the price of PARA is down -4.96% at $12.37.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 83 days.
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 Paramount Global, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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