Deep-pocketed investors have adopted a bearish approach towards Energy Transfer ET, 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 ET usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 12 extraordinary options activities for Energy Transfer. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 25% leaning bullish and 58% bearish. Among these notable options, 4 are puts, totaling $120,776, and 8 are calls, amounting to $282,460.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $12.0 and $15.0 for Energy Transfer, spanning the last three months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Energy Transfer stands at 7373.17, with a total volume reaching 8,523.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Energy Transfer, situated within the strike price corridor from $12.0 to $15.0, throughout the last 30 days.
Energy Transfer Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ET | PUT | SWEEP | NEUTRAL | 01/17/25 | $0.82 | $0.78 | $0.8 | $15.00 | $38.3K | 9.1K | 2.1K |
| ET | CALL | SWEEP | BULLISH | 05/31/24 | $0.36 | $0.34 | $0.36 | $15.00 | $36.0K | 1.5K | 2.0K |
| ET | CALL | TRADE | BEARISH | 01/16/26 | $3.75 | $3.55 | $3.55 | $12.00 | $35.5K | 13.0K | 250 |
| ET | CALL | TRADE | BULLISH | 01/16/26 | $3.55 | $3.5 | $3.55 | $12.00 | $35.5K | 13.0K | 100 |
| ET | CALL | SWEEP | BEARISH | 01/17/25 | $3.6 | $3.5 | $3.52 | $12.00 | $35.2K | 13.5K | 300 |
About Energy Transfer
Energy Transfer owns a large platform of crude oil, natural gas, and natural gas liquid assets primarily in Texas and the U.S. midcontinent region. It also has gathering and processing facilities, one of the largest fractionation facilities in the U.S., and fuel distribution. Energy Transfer also owns the Lake Charles gas liquefaction facility. It combined its publicly traded limited and general partnerships in October 2018.
Present Market Standing of Energy Transfer
- With a volume of 9,203,169, the price of ET is down -0.32% at $15.44.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 63 days.
What The Experts Say On Energy Transfer
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $21.5.
- Consistent in their evaluation, an analyst from UBS keeps a Buy rating on Energy Transfer with a target price of $24.
- Maintaining their stance, an analyst from Stifel continues to hold a Buy rating for Energy Transfer, targeting a price of $19.
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 Energy Transfer with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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