Investors with a lot of money to spend have taken a bullish stance on Procter & Gamble PG.
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 PG, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 12 options trades for Procter & Gamble.
This isn't normal.
The overall sentiment of these big-money traders is split between 33% bullish and 25%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $26,070, and 11, calls, for a total amount of $628,100.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $150.0 to $180.0 for Procter & Gamble over the recent three months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Procter & Gamble's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Procter & Gamble's whale trades within a strike price range from $150.0 to $180.0 in the last 30 days.
Procter & Gamble 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PG | CALL | SWEEP | BULLISH | 09/20/24 | $4.9 | $4.85 | $4.9 | $170.00 | $105.3K | 6.2K | 79 |
| PG | CALL | SWEEP | NEUTRAL | 09/20/24 | $8.3 | $8.3 | $8.3 | $165.00 | $73.0K | 2.9K | 5 |
| PG | CALL | TRADE | NEUTRAL | 07/19/24 | $14.8 | $14.35 | $14.55 | $155.00 | $72.7K | 942 | 11 |
| PG | CALL | SWEEP | BULLISH | 07/19/24 | $2.64 | $2.19 | $2.64 | $167.50 | $68.6K | 1.4K | 117 |
| PG | CALL | TRADE | BULLISH | 09/20/24 | $21.0 | $20.6 | $21.0 | $150.00 | $63.0K | 307 | 0 |
About Procter & Gamble
Since its founding in 1837, Procter & Gamble has become one of the world's largest consumer product manufacturers, generating more than $80 billion in annual sales. It operates with a lineup of leading brands, including more than 20 that generate north of $1 billion each in annual global sales, such as Tide laundry detergent, Charmin toilet paper, Pantene shampoo, and Pampers diapers. P&G sold its last remaining food brand, Pringles, to Kellogg in calendar 2012. Sales outside its home turf represent around 53% of the firm's consolidated total.
Having examined the options trading patterns of Procter & Gamble, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Procter & Gamble's Current Market Status
- With a volume of 2,834,682, the price of PG is up 0.11% at $169.62.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 12 days.
Professional Analyst Ratings for Procter & Gamble
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $184.0.
- Maintaining their stance, an analyst from Evercore ISI Group continues to hold a Outperform rating for Procter & Gamble, targeting a price of $183.
- In a cautious move, an analyst from Exane BNP Paribas downgraded its rating to Outperform, setting a price target of $187.
- Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Procter & Gamble, targeting a price of $190.
- Maintaining their stance, an analyst from Deutsche Bank continues to hold a Buy rating for Procter & Gamble, targeting a price of $176.
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 Procter & Gamble with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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