Investors with significant funds have taken a bearish position in Universal Display OLED, 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 OLED usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 8 options transactions for Universal Display. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 12% being bullish and 50% bearish. Of all the options we discovered, 7 are puts, valued at $1,085,349, and there was a single call, worth $53,210.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $220.0 to $240.0 for Universal Display during the past quarter.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Universal Display options trades today is 120.0 with a total volume of 1,908.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Universal Display's big money trades within a strike price range of $220.0 to $240.0 over the last 30 days.
Universal Display Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| OLED | PUT | TRADE | BULLISH | 08/16/24 | $6.2 | $4.8 | $5.3 | $220.00 | $493.4K | 55 | 981 |
| OLED | PUT | SWEEP | BEARISH | 08/16/24 | $5.1 | $4.9 | $5.1 | $220.00 | $235.6K | 55 | 112 |
| OLED | PUT | SWEEP | BEARISH | 08/16/24 | $5.3 | $5.3 | $5.3 | $220.00 | $209.9K | 55 | 580 |
| OLED | CALL | SWEEP | NEUTRAL | 07/19/24 | $17.4 | $15.1 | $15.65 | $220.00 | $53.2K | 300 | 14 |
| OLED | PUT | SWEEP | BEARISH | 07/19/24 | $11.5 | $9.3 | $10.5 | $240.00 | $52.5K | 125 | 25 |
About Universal Display
Universal Display Corp researches, develops, and manufactures organic light-emitting diode, or OLED, technologies for use in displays for mobile phones, tablets, televisions, wearables, personal computers, automotive interiors, and the solid-state lighting market. OLED technologies are an alternative to light-emitting diode, or LED, technologies, in the solid-state lighting market, and liquid crystal displays in the flat-panel-display market. A large majority of the firm's revenue is generated in South Korea, with the rest coming from Japan, China, the United States, and other countries across the world.
Following our analysis of the options activities associated with Universal Display, we pivot to a closer look at the company's own performance.
Universal Display's Current Market Status
- With a trading volume of 282,425, the price of OLED is up by 2.66%, reaching $236.35.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 16 days from now.
Professional Analyst Ratings for Universal Display
2 market experts have recently issued ratings for this stock, with a consensus target price of $246.0.
- Maintaining their stance, an analyst from Oppenheimer continues to hold a Outperform rating for Universal Display, targeting a price of $250.
- An analyst from Needham has decided to maintain their Buy rating on Universal Display, which currently sits at a price target of $242.
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 Universal Display, 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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