Investors with a lot of money to spend have taken a bullish stance on Daqo New Energy DQ.
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 DQ, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 10 options trades for Daqo New Energy.
This isn't normal.
The overall sentiment of these big-money traders is split between 60% bullish and 20%, bearish.
Out of all of the options we uncovered, 9 are puts, for a total amount of $262,933, and there was 1 call, for a total amount of $34,385.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $15.0 to $25.0 for Daqo New Energy over the last 3 months.
Analyzing Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Daqo New Energy's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Daqo New Energy's significant trades, within a strike price range of $15.0 to $25.0, over the past month.
Daqo New Energy Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DQ | PUT | TRADE | BULLISH | 01/17/25 | $10.3 | $10.0 | $10.09 | $25.00 | $36.3K | 670 | 330 |
| DQ | CALL | SWEEP | BULLISH | 07/19/24 | $1.15 | $1.05 | $1.15 | $15.00 | $34.3K | 101 | 15 |
| DQ | PUT | SWEEP | BEARISH | 01/17/25 | $2.5 | $2.4 | $2.5 | $15.00 | $31.2K | 762 | 0 |
| DQ | PUT | TRADE | NEUTRAL | 01/17/25 | $10.4 | $10.1 | $10.24 | $25.00 | $29.6K | 670 | 64 |
| DQ | PUT | TRADE | BEARISH | 01/17/25 | $10.3 | $9.6 | $10.08 | $25.00 | $29.2K | 670 | 35 |
About Daqo New Energy
Daqo New Energy Corp is a polysilicon manufacturer based in China. The company manufactures and sells high-purity polysilicon to manufacturers who use it to make ingots, cells, and modules for solar power solutions. The polysilicon is packaged to meet crucible stacking, pulling, and solidification needs. All of the company's revenues come from the People's Republic of China.
Having examined the options trading patterns of Daqo New Energy, 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 Daqo New Energy
- With a trading volume of 1,259,682, the price of DQ is up by 0.19%, reaching $15.5.
- Current RSI values indicate that the stock is may be oversold.
- Next earnings report is scheduled for 36 days from now.
Professional Analyst Ratings for Daqo New Energy
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $12.51.
- An analyst from GLJ Research has decided to maintain their Sell rating on Daqo New Energy, which currently sits at a price target of $12.
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 Daqo New Energy, 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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