High-rolling investors have positioned themselves bullish on Coherent COHR, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in COHR often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 10 options trades for Coherent. This is not a typical pattern.
The sentiment among these major traders is split, with 50% bullish and 40% bearish. Among all the options we identified, there was one put, amounting to $30,363, and 9 calls, totaling $552,089.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $55.0 to $75.0 for Coherent 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 Coherent'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 Coherent's whale trades within a strike price range from $55.0 to $75.0 in the last 30 days.
Coherent 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| COHR | CALL | TRADE | BEARISH | 06/14/24 | $8.2 | $7.8 | $7.8 | $60.00 | $156.0K | 409 | 0 |
| COHR | CALL | SWEEP | BULLISH | 11/15/24 | $13.7 | $13.6 | $13.7 | $60.00 | $68.5K | 273 | 136 |
| COHR | CALL | SWEEP | NEUTRAL | 11/15/24 | $14.8 | $13.4 | $13.5 | $60.00 | $67.5K | 273 | 86 |
| COHR | CALL | SWEEP | BULLISH | 11/15/24 | $13.5 | $13.3 | $13.4 | $60.00 | $67.0K | 273 | 36 |
| COHR | CALL | SWEEP | BEARISH | 12/20/24 | $9.3 | $9.2 | $9.2 | $70.00 | $55.2K | 416 | 40 |
About Coherent
Coherent Corp manufactures engineered materials, optoelectronic components and products used in industrial, optical communications, military, semiconductor, consumer, and life science applications. The firm operates in two segments Photonic Solutions Segment and Compound Semiconductors Segment. The Photonic Solutions Segment leverages II-VI's compound semiconductor technology platforms to deliver components and subsystems. The Compound Semiconductors Segment is a market leader in differentiated materials and devices.
In light of the recent options history for Coherent, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Coherent
- Trading volume stands at 1,639,500, with COHR's price up by 0.41%, positioned at $66.89.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 63 days.
Expert Opinions on Coherent
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $70.0.
- An analyst from Stifel has decided to maintain their Buy rating on Coherent, which currently sits at a price target of $68.
- Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $72.
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 Coherent with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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