Financial giants have made a conspicuous bullish move on Align Tech. Our analysis of options history for Align Tech ALGN revealed 9 unusual trades.
Delving into the details, we found 33% of traders were bullish, while 33% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $691,540, and 3 were calls, valued at $98,670.
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 $240.0 and $300.0 for Align Tech, spanning the last three months.
Insights into Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Align Tech's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Align Tech's significant trades, within a strike price range of $240.0 to $300.0, over the past month.
Align Tech 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ALGN | PUT | SWEEP | BEARISH | 07/26/24 | $8.0 | $7.9 | $8.0 | $240.00 | $206.4K | 1.0K | 347 |
| ALGN | PUT | SWEEP | BEARISH | 07/26/24 | $8.7 | $4.9 | $7.4 | $240.00 | $180.8K | 1.0K | 589 |
| ALGN | PUT | TRADE | BEARISH | 07/26/24 | $13.7 | $11.6 | $13.4 | $250.00 | $100.5K | 47 | 221 |
| ALGN | PUT | SWEEP | BULLISH | 07/26/24 | $9.3 | $7.4 | $7.4 | $240.00 | $99.1K | 1.0K | 824 |
| ALGN | PUT | SWEEP | BULLISH | 07/26/24 | $12.6 | $8.8 | $10.8 | $250.00 | $78.2K | 47 | 73 |
About Align Tech
Align Technology is the leading manufacturer of clear aligners. Invisalign, its main product, was approved by the Food and Drug Administration in 1998 and has since dominated, controlling over 90% of the market. Invisalign can treat roughly 90% of all malocclusion cases (misaligned teeth), and there are over 230,000 Invisalign-trained dentists and orthodontists. In 2022, Invisalign treated over 2 million cases, or roughly 10% of all orthodontic cases for the year, and it has treated over 14 million patients since its launch. Align also sells intraoral scanners under the brand iTero, which captures digital impressions of patients' teeth and illustrates treatment plans. Over 85% of Invisalign cases are submitted by digital scans, and iTero scans make up over half of these scans.
In light of the recent options history for Align Tech, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Align Tech
- With a trading volume of 256,644, the price of ALGN is down by -3.53%, reaching $236.16.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 90 days from now.
What The Experts Say On Align Tech
Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $330.0.
- An analyst from Piper Sandler persists with their Overweight rating on Align Tech, maintaining a target price of $330.
- Consistent in their evaluation, an analyst from Piper Sandler keeps a Overweight rating on Align Tech with a target price of $315.
- An analyst from Stifel persists with their Buy rating on Align Tech, maintaining a target price of $350.
- An analyst from Baird has decided to maintain their Outperform rating on Align Tech, which currently sits at a price target of $325.
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 Align Tech with Benzinga Pro for real-time alerts.
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