Financial giants have made a conspicuous bullish move on PureCycle Technologies. Our analysis of options history for PureCycle Technologies PCT revealed 8 unusual trades.
Delving into the details, we found 50% of traders were bullish, while 50% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $160,330, and 6 were calls, valued at $224,495.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $2.0 to $8.0 for PureCycle Technologies over the recent three months.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for PureCycle Technologies's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across PureCycle Technologies's significant trades, within a strike price range of $2.0 to $8.0, over the past month.
PureCycle Technologies 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PCT | PUT | SWEEP | BEARISH | 08/16/24 | $0.7 | $0.6 | $0.7 | $7.00 | $85.3K | 2.8K | 1.5K |
| PCT | CALL | SWEEP | BEARISH | 08/16/24 | $0.7 | $0.6 | $0.6 | $8.00 | $75.1K | 1.3K | 2.3K |
| PCT | PUT | SWEEP | BULLISH | 08/16/24 | $0.7 | $0.6 | $0.6 | $7.00 | $75.0K | 2.8K | 1.5K |
| PCT | CALL | SWEEP | BULLISH | 08/16/24 | $0.7 | $0.55 | $0.58 | $8.00 | $33.6K | 1.3K | 571 |
| PCT | CALL | TRADE | BULLISH | 11/15/24 | $1.6 | $1.35 | $1.6 | $8.00 | $32.0K | 172 | 211 |
About PureCycle Technologies
PureCycle Technologies Inc holds a license to commercialize the only patented solvent-based purification recycling technology, developed by The Procter & Gamble Company (P&G), for restoring waste polypropylene (PP) into a virgin-like resin. The proprietary process removes color, odor, and other contaminants from recycled feedstock resulting in virgin-like polypropylene suitable for any PP market.
After a thorough review of the options trading surrounding PureCycle Technologies, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of PureCycle Technologies
- Currently trading with a volume of 2,293,937, the PCT's price is up by 5.66%, now at $7.47.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 13 days.
What Analysts Are Saying About PureCycle Technologies
1 market experts have recently issued ratings for this stock, with a consensus target price of $7.0.
- An analyst from Stifel has revised its rating downward to Buy, adjusting the price target to $7.
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 PureCycle Technologies with Benzinga Pro for real-time alerts.
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