Investors with a lot of money to spend have taken a bullish stance on Global Payments GPN.
And retail traders should know.
We noticed this today when the trades 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 GPN, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 10 uncommon options trades for Global Payments.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 0%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $171,962, and 6 are calls, for a total amount of $290,660.
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 $70.0 and $105.0 for Global Payments, spanning the last three months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Global Payments stands at 419.57, with a total volume reaching 873.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Global Payments, situated within the strike price corridor from $70.0 to $105.0, throughout the last 30 days.
Global Payments Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GPN | CALL | TRADE | NEUTRAL | 08/16/24 | $13.8 | $13.4 | $13.57 | $80.00 | $67.8K | 57 | 0 |
| GPN | PUT | SWEEP | BULLISH | 01/17/25 | $1.8 | $1.7 | $1.7 | $70.00 | $61.3K | 66 | 27 |
| GPN | CALL | SWEEP | BULLISH | 01/17/25 | $11.4 | $11.1 | $11.3 | $90.00 | $49.7K | 28 | 2 |
| GPN | PUT | SWEEP | BULLISH | 01/17/25 | $1.8 | $1.65 | $1.65 | $70.00 | $48.5K | 66 | 27 |
| GPN | CALL | SWEEP | BULLISH | 07/19/24 | $0.8 | $0.75 | $0.75 | $100.00 | $47.7K | 1.8K | 20 |
About Global Payments
Global Payments is a leading provider of payment processing and software solutions and focuses on serving small and midsize merchants. The company operates in 30 countries and generates about one fourth of its revenue from outside North America, primarily in Europe and Asia. In 2019, Global Payments merged with Total System Services in an all-stock deal that gave Total System Services shareholders 48% of the combined company's shares. The merger added issuer processing operations.
Following our analysis of the options activities associated with Global Payments, we pivot to a closer look at the company's own performance.
Where Is Global Payments Standing Right Now?
- Currently trading with a volume of 1,704,763, the GPN's price is down by -1.71%, now at $92.28.
- RSI readings suggest the stock is currently may be oversold.
- Anticipated earnings release is in 42 days.
Professional Analyst Ratings for Global Payments
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $100.0.
- An analyst from Wells Fargo downgraded its action to Equal-Weight with a price target of $100.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Global Payments options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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