A Closer Look at SunPower's Options Market Dynamics

Investors with a lot of money to spend have taken a bearish stance on SunPower SPWR.

And retail traders should know.

We noticed this today when the trades 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 SPWR, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 8 uncommon options trades for SunPower.

This isn't normal.

The overall sentiment of these big-money traders is split between 25% bullish and 37%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $322,750, and 2 are calls, for a total amount of $68,984.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $1.5 to $5.0 for SunPower over the recent 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 SunPower'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 SunPower's whale trades within a strike price range from $1.5 to $5.0 in the last 30 days.

SunPower 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

About SunPower

SunPower is a leading solar technology and energy services provider that offers fully integrated solar, storage, and home energy solutions to customers primarily in the United States and Canada through an array of hardware, software, and financing options and smart energy solutions. The company's sales channels include a network of both installing and noninstalling dealers and resellers that operate in residential and commercial markets as well as a group of in-house sales teams in each segment engaged in direct sales to end customers.

Where Is SunPower Standing Right Now?

• With a volume of 22,944,831, the price of SPWR is up 11.22% at $1.04.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 13 days.

What Analysts Are Saying About SunPower

In the last month, 5 experts released ratings on this stock with an average target price of $0.972.

• Consistent in their evaluation, an analyst from GLJ Research keeps a Sell rating on SunPower with a target price of $0.
• Consistent in their evaluation, an analyst from Goldman Sachs keeps a Sell rating on SunPower with a target price of $0.
• An analyst from Susquehanna has decided to maintain their Neutral rating on SunPower, which currently sits at a price target of $2.
• In a cautious move, an analyst from GLJ Research downgraded its rating to Sell, setting a price target of $1.
• Maintaining their stance, an analyst from Citigroup continues to hold a Sell rating for SunPower, targeting a price of $0.

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 SunPower with Benzinga Pro for real-time alerts.