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 20% bearish. Among all the options we identified, there was one put, amounting to $60,000, and 9 calls, totaling $787,409.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $65.0 to $90.0 for Coherent during the past quarter.
Analyzing Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $65.0 to $90.0 in the last 30 days.
Coherent Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| COHR | CALL | TRADE | BEARISH | 01/16/26 | $18.3 | $16.8 | $16.8 | $75.00 | $450.2K | 5.4K | 0 |
| COHR | CALL | SWEEP | NEUTRAL | 11/15/24 | $15.1 | $13.6 | $13.8 | $65.00 | $64.8K | 219 | 10 |
| COHR | PUT | SWEEP | BULLISH | 07/19/24 | $3.1 | $3.0 | $3.0 | $70.00 | $60.0K | 247 | 0 |
| COHR | CALL | SWEEP | NEUTRAL | 11/15/24 | $15.3 | $14.0 | $14.1 | $65.00 | $59.2K | 219 | 65 |
| COHR | CALL | SWEEP | BULLISH | 02/21/25 | $11.8 | $11.7 | $11.8 | $75.00 | $59.0K | 34 | 74 |
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.
Following our analysis of the options activities associated with Coherent, we pivot to a closer look at the company's own performance.
Coherent's Current Market Status
- With a volume of 1,750,998, the price of COHR is down -0.59% at $70.5.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 60 days.
What The Experts Say On Coherent
1 market experts have recently issued ratings for this stock, with a consensus target price of $72.0.
- An analyst from Needham has revised its rating downward to Buy, adjusting the price target to $72.
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 Coherent, 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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