Paramount Global Unusual Options Activity

Investors with a lot of money to spend have taken a bearish stance on Paramount Global PARA.

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 these are institutions or just wealthy individuals, we don't know. But when something this big happens with PARA, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 16 uncommon options trades for Paramount Global.

This isn't normal.

The overall sentiment of these big-money traders is split between 43% bullish and 50%, bearish.

Out of all of the special options we uncovered, 9 are puts, for a total amount of $480,344, and 7 are calls, for a total amount of $342,927.

Predicted Price Range

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $8.0 and $12.0 for Paramount Global, spanning the last three months.

Analyzing Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Paramount Global's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Paramount Global's substantial trades, within a strike price spectrum from $8.0 to $12.0 over the preceding 30 days.

Paramount Global Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

About Paramount Global

Paramount Global operates in three global business segments: TV media, filmed entertainment, and direct to consumer. The TV media business includes television production studios and various broadcast and cable networks, including CBS, 15 owned CBS affiliates, Paramount, Nickelodeon, MTV, BET, and VH1. Filmed entertainment consists multiple film studios, most importantly Paramount Pictures. The film studios produce and distribute movies that they license to movie theaters and other media outlets. Direct to consumer includes multiple streaming platforms, including Paramount+, which now includes Showtime, Pluto TV, and BET+. Much of the content on Paramount's streaming platforms is created by the production studios housed within the firm's other two business segments.

After a thorough review of the options trading surrounding Paramount Global, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Current Position of Paramount Global

• Currently trading with a volume of 11,309,648, the PARA's price is up by 1.31%, now at $11.61.
• RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
• Anticipated earnings release is in 31 days.

What Analysts Are Saying About Paramount Global

A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $9.25.

• An analyst from Goldman Sachs has revised its rating downward to Sell, adjusting the price target to $9.
• In a cautious move, an analyst from Wells Fargo downgraded its rating to Underweight, setting a price target of $9.

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 Paramount Global with Benzinga Pro for real-time alerts.