Deep-pocketed investors have adopted a bullish approach towards Paramount Global PARA, 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 PARA usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 15 extraordinary options activities for Paramount Global. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 40% leaning bullish and 40% bearish. Among these notable options, 13 are puts, totaling $930,119, and 2 are calls, amounting to $56,530.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $9.0 to $12.5 for Paramount Global over the recent three months.
Volume & Open Interest Trends
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Paramount Global's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Paramount Global's significant trades, within a strike price range of $9.0 to $12.5, over the past month.
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 | PUT | SWEEP | BULLISH | 12/20/24 | $0.83 | $0.77 | $0.83 | $9.00 | $143.8K | 5.2K | 0 |
| PARA | PUT | SWEEP | BEARISH | 06/21/24 | $2.09 | $2.08 | $2.08 | $12.50 | $141.2K | 16.0K | 854 |
| PARA | PUT | SWEEP | BEARISH | 06/21/24 | $2.15 | $1.57 | $2.15 | $12.50 | $123.2K | 16.0K | 2.1K |
| PARA | PUT | SWEEP | BULLISH | 06/21/24 | $2.09 | $1.96 | $2.08 | $12.50 | $114.1K | 16.0K | 80 |
| PARA | PUT | SWEEP | BEARISH | 06/21/24 | $2.08 | $1.81 | $2.08 | $12.50 | $102.3K | 16.0K | 854 |
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 trading volume of 16,022,831, the price of PARA is down by -6.48%, reaching $10.4.
- Current RSI values indicate that the stock is may be oversold.
- Next earnings report is scheduled for 53 days from now.
Expert Opinions on Paramount Global
2 market experts have recently issued ratings for this stock, with a consensus target price of $11.5.
- Reflecting concerns, an analyst from Wells Fargo lowers its rating to Underweight with a new price target of $9.
- Maintaining their stance, an analyst from Rosenblatt continues to hold a Neutral rating for Paramount Global, targeting a price of $14.
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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