Deep-pocketed investors have adopted a bearish approach towards Maxeon Solar Technologies MAXN, 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 MAXN 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 Maxeon Solar Technologies. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 40% leaning bullish and 46% bearish. Among these notable options, 13 are puts, totaling $1,787,974, and 2 are calls, amounting to $80,200.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $0.5 and $5.0 for Maxeon Solar Technologies, spanning the last three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Maxeon Solar Technologies stands at 22195.25, with a total volume reaching 78,666.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Maxeon Solar Technologies, situated within the strike price corridor from $0.5 to $5.0, throughout the last 30 days.
Maxeon Solar Technologies 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MAXN | PUT | SWEEP | BEARISH | 07/05/24 | $0.7 | $0.65 | $0.7 | $1.00 | $643.0K | 17.4K | 21.0K |
| MAXN | PUT | SWEEP | BEARISH | 07/05/24 | $0.7 | $0.6 | $0.65 | $1.00 | $213.0K | 17.4K | 11.6K |
| MAXN | PUT | SWEEP | BEARISH | 07/05/24 | $0.7 | $0.65 | $0.65 | $1.00 | $210.7K | 17.4K | 7.1K |
| MAXN | PUT | SWEEP | BEARISH | 07/05/24 | $0.65 | $0.6 | $0.65 | $1.00 | $167.8K | 17.4K | 17.8K |
| MAXN | PUT | SWEEP | NEUTRAL | 07/19/24 | $2.15 | $2.05 | $2.1 | $2.50 | $105.0K | 135.7K | 0 |
About Maxeon Solar Technologies
Maxeon Solar Technologies Ltd is engaged in the manufacturing and marketing of premium solar technology. It owns and operates solar cell and panel manufacturing facilities located in Malaysia, Mexico, and the Philippines. The company's primary products are the Maxeon line of interdigitated back contact (IBC) solar cells and panels, and the Performance line (formerly, P-Series) of shingled solar cells and panels. the Maxeon line of solar panels are the highest-efficiency solar panels on the market with an aesthetically pleasing design, and the Performance line of solar panels offers a high-value and cost-effective solution. It is targeted at residential and small-scale commercial customers across the globe. The company derives its revenue from the United States, France, Italy, and others.
Having examined the options trading patterns of Maxeon Solar Technologies, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Maxeon Solar Technologies
- Trading volume stands at 1,343,584, with MAXN's price down by -7.14%, positioned at $1.04.
- RSI indicators show the stock to be may be oversold.
- Earnings announcement expected in 41 days.
Professional Analyst Ratings for Maxeon Solar Technologies
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $1.5.
- An analyst from Goldman Sachs downgraded its action to Sell with a price target of $1.
- An analyst from Roth MKM has decided to maintain their Neutral rating on Maxeon Solar Technologies, which currently sits at a price target of $2.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Maxeon Solar Technologies with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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