Investors with a lot of money to spend have taken a bullish stance on MP Materials MP.
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 MP, 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 11 uncommon options trades for MP Materials.
This isn't normal.
The overall sentiment of these big-money traders is split between 63% bullish and 36%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $63,625, and 9 are calls, for a total amount of $552,835.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $15.0 to $22.5 for MP Materials over the recent three months.
Volume & Open Interest Trends
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 MP Materials'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 MP Materials's whale trades within a strike price range from $15.0 to $22.5 in the last 30 days.
MP Materials 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MP | CALL | SWEEP | BULLISH | 08/16/24 | $2.1 | $1.85 | $1.9 | $17.50 | $131.6K | 2.4K | 2 |
| MP | CALL | SWEEP | BEARISH | 06/21/24 | $0.7 | $0.65 | $0.65 | $20.00 | $130.0K | 3.4K | 5.5K |
| MP | CALL | SWEEP | BEARISH | 08/16/24 | $0.75 | $0.7 | $0.7 | $22.50 | $52.5K | 889 | 787 |
| MP | CALL | SWEEP | BULLISH | 06/21/24 | $0.65 | $0.6 | $0.65 | $20.00 | $49.4K | 3.4K | 2.8K |
| MP | CALL | SWEEP | BULLISH | 08/16/24 | $2.4 | $2.3 | $2.35 | $17.50 | $46.5K | 2.4K | 909 |
About MP Materials
MP Materials Corp is the producer of rare earth materials in the Western Hemisphere. The company owns and operates the Mountain Pass Rare Earth Mine and Processing Facility, the only rare earth mining and processing site of scale in North America.
In light of the recent options history for MP Materials, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of MP Materials
- Trading volume stands at 7,295,875, with MP's price up by 12.66%, positioned at $18.42.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 79 days.
What The Experts Say On MP Materials
In the last month, 3 experts released ratings on this stock with an average target price of $25.333333333333332.
- An analyst from Benchmark downgraded its action to Buy with a price target of $30.
- An analyst from Benchmark has revised its rating downward to Buy, adjusting the price target to $30.
- Reflecting concerns, an analyst from JP Morgan lowers its rating to Neutral with a new price target of $16.
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 MP Materials, 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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