Investors with a lot of money to spend have taken a bullish stance on Align Tech ALGN.
And retail traders should know.
We noticed this today when the positions 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 ALGN, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 9 options trades for Align Tech.
This isn't normal.
The overall sentiment of these big-money traders is split between 55% bullish and 22%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $221,760, and 8, calls, for a total amount of $257,574.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $220.0 to $350.0 for Align Tech over the last 3 months.
Analyzing Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Align Tech's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Align Tech's significant trades, within a strike price range of $220.0 to $350.0, over the past month.
Align Tech Option Volume And Open Interest Over 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ALGN | PUT | TRADE | BULLISH | 01/16/26 | $30.9 | $27.7 | $28.8 | $220.00 | $221.7K | 106 | 0 |
| ALGN | CALL | SWEEP | BULLISH | 01/17/25 | $11.2 | $10.8 | $10.8 | $350.00 | $44.2K | 252 | 64 |
| ALGN | CALL | SWEEP | BULLISH | 01/17/25 | $10.9 | $10.8 | $10.9 | $350.00 | $37.0K | 252 | 0 |
| ALGN | CALL | TRADE | BULLISH | 01/17/25 | $10.9 | $10.8 | $10.9 | $350.00 | $32.7K | 252 | 0 |
| ALGN | CALL | TRADE | BEARISH | 10/18/24 | $21.0 | $20.7 | $20.7 | $280.00 | $31.0K | 38 | 0 |
About Align Tech
Align Technology is the leading manufacturer of clear aligners. Invisalign, its main product, was approved by the Food and Drug Administration in 1998 and has since dominated, controlling over 90% of the market. Invisalign can treat roughly 90% of all malocclusion cases (misaligned teeth), and there are over 230,000 Invisalign-trained dentists and orthodontists. In 2022, Invisalign treated over 2 million cases, or roughly 10% of all orthodontic cases for the year, and it has treated over 14 million patients since its launch. Align also sells intraoral scanners under the brand iTero, which captures digital impressions of patients' teeth and illustrates treatment plans. Over 85% of Invisalign cases are submitted by digital scans, and iTero scans make up over half of these scans.
Present Market Standing of Align Tech
- Trading volume stands at 466,540, with ALGN's price up by 4.73%, positioned at $265.26.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 42 days.
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 Align Tech with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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