Investors with significant funds have taken a bullish position in SolarEdge Technologies SEDG, a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in SEDG usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 8 options transactions for SolarEdge Technologies. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 62% being bullish and 37% bearish. Of all the options we discovered, 7 are puts, valued at $1,086,225, and there was a single call, worth $29,820.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $25.0 to $65.0 for SolarEdge Technologies during the past quarter.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of SolarEdge Technologies stands at 631.75, with a total volume reaching 468.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in SolarEdge Technologies, situated within the strike price corridor from $25.0 to $65.0, throughout the last 30 days.
SolarEdge Technologies 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SEDG | PUT | SWEEP | BULLISH | 01/17/25 | $39.7 | $39.25 | $39.5 | $65.00 | $221.2K | 1.8K | 181 |
| SEDG | PUT | TRADE | BEARISH | 01/17/25 | $39.75 | $39.6 | $39.75 | $65.00 | $178.8K | 1.8K | 0 |
| SEDG | PUT | SWEEP | BULLISH | 01/17/25 | $39.7 | $39.3 | $39.5 | $65.00 | $177.7K | 1.8K | 136 |
| SEDG | PUT | TRADE | BULLISH | 01/17/25 | $39.95 | $39.4 | $39.4 | $65.00 | $177.3K | 1.8K | 90 |
| SEDG | PUT | TRADE | BULLISH | 01/17/25 | $39.85 | $39.2 | $39.4 | $65.00 | $177.3K | 1.8K | 45 |
About SolarEdge Technologies
SolarEdge Technologies designs, develops, and sells direct current optimized inverter systems for solar photovoltaic installations. The company system consists of power optimizers, inverters, and cloud-based monitoring platform and addresses a broad range of solar market segments, from residential solar installations to commercial and small utility-scale solar installations. The company sells its products directly to solar installers, engineering, procurement, and construction firms and indirectly to solar installers through distributors and electrical equipment wholesalers.
After a thorough review of the options trading surrounding SolarEdge Technologies, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
SolarEdge Technologies's Current Market Status
- Trading volume stands at 871,006, with SEDG's price up by 1.48%, positioned at $25.64.
- RSI indicators show the stock to be may be oversold.
- Earnings announcement expected in 29 days.
Professional Analyst Ratings for SolarEdge Technologies
5 market experts have recently issued ratings for this stock, with a consensus target price of $41.6.
- Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for SolarEdge Technologies, targeting a price of $41.
- An analyst from Piper Sandler persists with their Neutral rating on SolarEdge Technologies, maintaining a target price of $25.
- Maintaining their stance, an analyst from Goldman Sachs continues to hold a Sell rating for SolarEdge Technologies, targeting a price of $25.
- An analyst from Scotiabank persists with their Sector Perform rating on SolarEdge Technologies, maintaining a target price of $46.
- An analyst from RBC Capital downgraded its action to Sector Perform with a price target of $71.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest SolarEdge Technologies options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
