Investors with a lot of money to spend have taken a bearish stance on Chewy CHWY.
And retail traders should know.
We noticed this today when the positions 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 CHWY, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 8 options trades for Chewy.
This isn't normal.
The overall sentiment of these big-money traders is split between 37% bullish and 50%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $40,266, and 7, calls, for a total amount of $724,144.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $25.0 to $35.0 for Chewy over the last 3 months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Chewy options trades today is 3226.29 with a total volume of 780.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Chewy's big money trades within a strike price range of $25.0 to $35.0 over the last 30 days.
Chewy Option Volume And Open Interest Over 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CHWY | CALL | TRADE | BEARISH | 10/18/24 | $2.03 | $1.93 | $1.94 | $35.00 | $543.2K | 5.0K | 1 |
| CHWY | CALL | SWEEP | BULLISH | 07/26/24 | $1.59 | $1.52 | $1.59 | $26.50 | $46.1K | 454 | 1 |
| CHWY | PUT | SWEEP | BULLISH | 01/17/25 | $6.7 | $6.55 | $6.6 | $30.00 | $40.2K | 2.8K | 28 |
| CHWY | CALL | SWEEP | BULLISH | 07/19/24 | $0.81 | $0.71 | $0.7 | $27.00 | $27.6K | 4.2K | 679 |
| CHWY | CALL | SWEEP | BEARISH | 09/20/24 | $4.65 | $4.5 | $4.53 | $25.00 | $27.2K | 6.5K | 51 |
About Chewy
Chewy is the largest e-commerce pet care retailer in the US, generating $11.2 billion in 2023 sales across pet food, treats, hard goods, and pharmacy categories. The firm was founded in 2011, acquired by PetSmart in 2017, and tapped public markets as a stand-alone company in 2019 after spending a couple of years developing under the aegis of the pet superstore chain. The firm generates sales from pet food, treats, over-the-counter medications, medical prescription fulfillment, and hard goods, like crates, leashes, and bowls.
Having examined the options trading patterns of Chewy, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is Chewy Standing Right Now?
- Currently trading with a volume of 1,969,284, the CHWY's price is up by 1.38%, now at $27.19.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 41 days.
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 Chewy with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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