Whales with a lot of money to spend have taken a noticeably bearish stance on British American Tobacco.
Looking at options history for British American Tobacco BTI we detected 9 trades.
If we consider the specifics of each trade, it is accurate to state that 11% of the investors opened trades with bullish expectations and 88% with bearish.
From the overall spotted trades, 7 are puts, for a total amount of $252,279 and 2, calls, for a total amount of $109,000.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $30.0 to $35.0 for British American Tobacco over the last 3 months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for British American Tobacco options trades today is 930.0 with a total volume of 1,591.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for British American Tobacco's big money trades within a strike price range of $30.0 to $35.0 over the last 30 days.
British American Tobacco Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BTI | CALL | TRADE | BEARISH | 09/20/24 | $4.3 | $4.2 | $4.2 | $30.00 | $84.0K | 2.7K | 202 |
| BTI | PUT | SWEEP | BEARISH | 08/16/24 | $0.6 | $0.55 | $0.6 | $33.00 | $80.7K | 420 | 35 |
| BTI | PUT | TRADE | BEARISH | 12/18/26 | $7.2 | $3.0 | $5.9 | $35.00 | $29.5K | 1 | 30 |
| BTI | PUT | SWEEP | BEARISH | 12/18/26 | $5.7 | $5.1 | $5.7 | $35.00 | $28.5K | 1 | 250 |
| BTI | PUT | SWEEP | BEARISH | 12/18/26 | $5.7 | $5.1 | $5.7 | $35.00 | $28.5K | 1 | 200 |
About British American Tobacco
The second largest tobacco company by volume, British American Tobacco sold 555 billion cigarettes in 2023. Its leading brands are Dunhill, Kent, Pall Mall, Lucky Strike, and Rothmans in cigarettes. Its ownership of the Camel, Natural American Spirit, and Newport brands are limited to the us. In next-generation products, the company has the Vuse brand in vaping, Glo in hated tobacco, and Velo in modern oral tobacco. The company also owns a 25.5% stake in ITC limited, the largest Indian cigarette company.
Following our analysis of the options activities associated with British American Tobacco, we pivot to a closer look at the company's own performance.
Where Is British American Tobacco Standing Right Now?
- With a volume of 3,288,650, the price of BTI is up 1.74% at $33.27.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 12 days.
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 British American Tobacco, 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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