Deep-pocketed investors have adopted a bearish approach towards Dell Technologies DELL, 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 DELL usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for Dell Technologies. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 27% leaning bullish and 72% bearish. Among these notable options, 4 are puts, totaling $142,290, and 7 are calls, amounting to $241,894.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $125.0 to $180.0 for Dell Technologies over the recent three months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Dell Technologies stands at 1646.88, with a total volume reaching 765.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Dell Technologies, situated within the strike price corridor from $125.0 to $180.0, throughout the last 30 days.
Dell Technologies Option Activity Analysis: 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DELL | PUT | TRADE | BEARISH | 07/26/24 | $3.1 | $2.3 | $2.92 | $130.00 | $58.4K | 433 | 208 |
| DELL | CALL | TRADE | BULLISH | 08/16/24 | $10.0 | $9.8 | $10.0 | $140.00 | $50.0K | 2.2K | 21 |
| DELL | CALL | SWEEP | BEARISH | 08/16/24 | $3.8 | $3.7 | $3.77 | $160.00 | $38.7K | 3.6K | 334 |
| DELL | CALL | SWEEP | BEARISH | 10/18/24 | $7.6 | $7.4 | $7.55 | $170.00 | $38.0K | 1.8K | 28 |
| DELL | CALL | TRADE | BEARISH | 08/16/24 | $3.3 | $3.1 | $3.1 | $160.00 | $31.0K | 3.6K | 10 |
About Dell Technologies
Dell Technologies is a broad information technology vendor, primarily supplying hardware to enterprises. It is focused on premium personal computers and enterprise on-premises data center hardware. It holds top-three shares in its core markets of personal computers, peripheral displays, mainstream servers, and external storage. Dell is vertically integrated but has a robust ecosystem of component and assembly partners, and also relies heavily on channel partners to fulfill its sales.
Having examined the options trading patterns of Dell Technologies, 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 Dell Technologies
- Trading volume stands at 2,325,851, with DELL's price down by -0.4%, positioned at $139.79.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 64 days.
What Analysts Are Saying About Dell Technologies
5 market experts have recently issued ratings for this stock, with a consensus target price of $165.0.
- An analyst from Morgan Stanley persists with their Overweight rating on Dell Technologies, maintaining a target price of $155.
- Maintaining their stance, an analyst from Loop Capital continues to hold a Buy rating for Dell Technologies, targeting a price of $185.
- Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Dell Technologies with a target price of $155.
- An analyst from TD Cowen persists with their Hold rating on Dell Technologies, maintaining a target price of $155.
- An analyst from Wells Fargo persists with their Overweight rating on Dell Technologies, maintaining a target price of $175.
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 Dell Technologies, 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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