Deep-pocketed investors have adopted a bullish approach towards Dollar Gen DG, 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 DG usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Dollar Gen. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 62% leaning bullish and 37% bearish. Among these notable options, 5 are puts, totaling $811,625, and 3 are calls, amounting to $108,780.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $100.0 and $125.0 for Dollar Gen, spanning the last three months.
Volume & Open Interest Development
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 Dollar Gen'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 Dollar Gen's whale trades within a strike price range from $100.0 to $125.0 in the last 30 days.
Dollar Gen Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DG | PUT | TRADE | BULLISH | 09/20/24 | $2.06 | $1.65 | $1.75 | $105.00 | $490.0K | 104 | 2.8K |
| DG | PUT | SWEEP | BULLISH | 09/20/24 | $6.75 | $6.4 | $6.6 | $120.00 | $149.7K | 545 | 230 |
| DG | PUT | SWEEP | BULLISH | 02/21/25 | $4.2 | $3.75 | $4.2 | $100.00 | $89.5K | 27 | 213 |
| DG | PUT | TRADE | BULLISH | 09/20/24 | $6.9 | $6.8 | $6.8 | $120.00 | $41.4K | 545 | 607 |
| DG | PUT | TRADE | BEARISH | 09/20/24 | $6.8 | $6.55 | $6.7 | $120.00 | $40.8K | 545 | 291 |
About Dollar Gen
With over 20,000 locations, Dollar General's banner is nearly ubiquitous across the rural United States. Dollar General serves as a convenient shopping destination for fill-in store trips, with its value proposition most relevant to consumers in small communities with a dearth of shopping options. The retailer operates a frugal store of about 7,500 square feet and primarily offers an assortment of branded and private-label consumable items (80% of net sales) such as paper and cleaning products, packaged and perishable food, tobacco, and health and beauty items at low prices. Dollar General also offers a limited assortment of seasonal merchandise, home products, and apparel. The firm sells most items at a price point of $10 or less.
After a thorough review of the options trading surrounding Dollar Gen, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Dollar Gen's Current Market Status
- Trading volume stands at 1,180,203, with DG's price down by -2.21%, positioned at $120.56.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 37 days.
Professional Analyst Ratings for Dollar Gen
3 market experts have recently issued ratings for this stock, with a consensus target price of $152.66666666666666.
- An analyst from Loop Capital has decided to maintain their Hold rating on Dollar Gen, which currently sits at a price target of $140.
- An analyst from Evercore ISI Group persists with their In-Line rating on Dollar Gen, maintaining a target price of $148.
- An analyst from Argus Research persists with their Buy rating on Dollar Gen, maintaining a target price of $170.
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 Dollar Gen with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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