Deep-pocketed investors have adopted a bearish approach towards Enovix ENVX, 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 ENVX usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 15 extraordinary options activities for Enovix. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 26% leaning bullish and 40% bearish. Among these notable options, 5 are puts, totaling $435,905, and 10 are calls, amounting to $2,822,158.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $12.0 to $25.0 for Enovix over the last 3 months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Enovix stands at 8987.0, with a total volume reaching 3,616.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Enovix, situated within the strike price corridor from $12.0 to $25.0, throughout the last 30 days.
Enovix Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ENVX | CALL | TRADE | BULLISH | 06/28/24 | $3.4 | $3.15 | $3.33 | $12.50 | $2.4M | 8.6K | 66 |
| ENVX | PUT | TRADE | BEARISH | 06/20/25 | $3.5 | $2.15 | $3.15 | $12.00 | $220.5K | 178 | 1 |
| ENVX | CALL | TRADE | BEARISH | 01/17/25 | $5.7 | $5.65 | $5.65 | $12.50 | $104.5K | 10.0K | 21 |
| ENVX | PUT | SWEEP | BULLISH | 06/28/24 | $0.77 | $0.76 | $0.76 | $16.00 | $86.1K | 7.4K | 972 |
| ENVX | CALL | TRADE | NEUTRAL | 07/19/24 | $4.15 | $3.9 | $4.03 | $12.00 | $48.3K | 11.1K | 1 |
About Enovix
Enovix Corp is engaged in the business of advanced silicon-anode lithium-ion battery development and production. It is also developing its 3D cell technology and production process for the electric vehicle and energy storage markets to help enable the widespread utilization of renewable energy.
In light of the recent options history for Enovix, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Enovix
- With a trading volume of 8,190,920, the price of ENVX is down by -5.23%, reaching $15.41.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 28 days from now.
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 Enovix, 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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