Investors with a lot of money to spend have taken a bullish stance on Align Tech ALGN.
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 this is an institution or just a wealthy individual, we don't know. But when something this big happens with ALGN, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 8 options trades for Align Tech.
This isn't normal.
The overall sentiment of these big-money traders is split between 100% bullish and 0%, bearish.
Out of all of the options we uncovered, 7 are puts, for a total amount of $210,054, and there was 1 call, for a total amount of $32,560.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $165.0 to $250.0 for Align Tech during the past quarter.
Volume & Open Interest Trends
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Align Tech's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Align Tech's substantial trades, within a strike price spectrum from $165.0 to $250.0 over the preceding 30 days.
Align Tech 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ALGN | PUT | SWEEP | BULLISH | 01/17/25 | $4.9 | $4.7 | $4.7 | $165.00 | $39.0K | 32 | 363 |
| ALGN | PUT | SWEEP | BULLISH | 01/17/25 | $4.9 | $4.6 | $4.7 | $165.00 | $33.3K | 32 | 363 |
| ALGN | CALL | SWEEP | BULLISH | 01/17/25 | $29.6 | $28.8 | $29.6 | $250.00 | $32.5K | 37 | 5 |
| ALGN | PUT | SWEEP | BULLISH | 01/17/25 | $5.1 | $4.8 | $4.8 | $165.00 | $30.7K | 32 | 0 |
| ALGN | PUT | SWEEP | BULLISH | 01/17/25 | $4.9 | $4.7 | $4.7 | $165.00 | $27.2K | 32 | 363 |
About Align Tech
Align Technology is the leading manufacturer of clear aligners. Invisalign, its main product, was approved by the Food and Drug Administration in 1998 and has since dominated, controlling over 90% of the market. Invisalign can treat roughly 90% of all malocclusion cases (misaligned teeth), and there are over 230,000 Invisalign-trained dentists and orthodontists. In 2022, Invisalign treated over 2 million cases, or roughly 10% of all orthodontic cases for the year, and it has treated over 14 million patients since its launch. Align also sells intraoral scanners under the brand iTero, which captures digital impressions of patients' teeth and illustrates treatment plans. Over 85% of Invisalign cases are submitted by digital scans, and iTero scans make up over half of these scans.
Having examined the options trading patterns of Align Tech, 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 Align Tech
- With a volume of 191,609, the price of ALGN is up 3.0% at $242.29.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 28 days.
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 Align Tech, 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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