Deep-pocketed investors have adopted a bearish approach towards Nikola NKLA, 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 NKLA usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for Nikola. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 40% leaning bullish and 50% bearish. Among these notable options, 8 are puts, totaling $719,761, and 2 are calls, amounting to $52,480.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $1.0 and $15.0 for Nikola, spanning the last three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Nikola stands at 3275.67, with a total volume reaching 3,979.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Nikola, situated within the strike price corridor from $1.0 to $15.0, throughout the last 30 days.
Nikola Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NKLA | PUT | SWEEP | BEARISH | 07/19/24 | $5.55 | $5.0 | $5.54 | $15.00 | $273.1K | 3.5K | 300 |
| NKLA | PUT | SWEEP | BEARISH | 07/19/24 | $5.45 | $5.3 | $5.3 | $15.00 | $146.6K | 3.5K | 1.0K |
| NKLA | PUT | TRADE | BEARISH | 07/19/24 | $5.3 | $5.05 | $5.23 | $15.00 | $130.7K | 3.5K | 800 |
| NKLA | PUT | SWEEP | NEUTRAL | 07/19/24 | $5.55 | $5.1 | $5.38 | $15.00 | $53.5K | 3.5K | 200 |
| NKLA | PUT | TRADE | BULLISH | 07/19/24 | $0.93 | $0.56 | $0.56 | $9.50 | $35.2K | 43 | 24 |
About Nikola
Nikola Corp is a technology innovator and integrator, working to develop inventive energy and transportation solutions. It works on a business model that enables customers and fleets to integrate next-generation truck technology, hydrogen fueling and charging infrastructure, and related maintenance. It operates in two business units: Truck and Energy. The Truck business unit and Energy business unit. The Truck business unit is engaged manufacturing and selling FCEV and BEV trucks that provide, environmentally friendly, cost effective solutions to the trucking sector. The Energy business unit is engaged in developing and constructing a network of hydrogen fueling stations to meet hydrogen fuel demand for the Company's customers.
Present Market Standing of Nikola
- Currently trading with a volume of 3,740,455, the NKLA's price is up by 3.58%, now at $9.84.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 29 days.
What The Experts Say On Nikola
1 market experts have recently issued ratings for this stock, with a consensus target price of $1.0.
- Maintaining their stance, an analyst from DA Davidson continues to hold a Neutral rating for Nikola, targeting a price of $1.
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 Nikola, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
