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 8 options trades for Coherent. This is not a typical pattern.
The sentiment among these major traders is split, with 75% bullish and 12% bearish. Among all the options we identified, there was one put, amounting to $56,649, and 7 calls, totaling $1,475,819.
Predicted Price Range
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 $75.0 for Coherent, spanning the last 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 $70.0 to $75.0 in the last 30 days.
Coherent 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| 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 | $16.6 | $16.0 | $16.2 | $75.00 | $379.0K | 5.3K | 8 |
| COHR | CALL | SWEEP | BULLISH | 08/16/24 | $6.9 | $6.4 | $6.8 | $70.00 | $340.0K | 1.3K | 531 |
| COHR | CALL | SWEEP | NEUTRAL | 08/16/24 | $6.9 | $6.6 | $6.8 | $70.00 | $278.6K | 1.3K | 111 |
| COHR | CALL | SWEEP | BULLISH | 08/16/24 | $7.1 | $6.7 | $7.0 | $70.00 | $255.0K | 1.3K | 1.0K |
| COHR | CALL | SWEEP | BULLISH | 08/16/24 | $7.1 | $6.7 | $7.0 | $70.00 | $84.9K | 1.3K | 1.4K |
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.
Having examined the options trading patterns of Coherent, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of Coherent
- With a volume of 1,143,567, the price of COHR is up 0.15% at $71.1.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 53 days.
Expert Opinions on Coherent
In the last month, 1 experts released ratings on this stock with an average target price of $72.0.
- Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $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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