Investors with a lot of money to spend have taken a bearish stance on Paycom Software PAYC.
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 this is an institution or just a wealthy individual, we don't know. But when something this big happens with PAYC, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 9 options trades for Paycom Software.
This isn't normal.
The overall sentiment of these big-money traders is split between 0% bullish and 100%, bearish.
Out of all of the options we uncovered, 8 are puts, for a total amount of $655,502, and there was 1 call, for a total amount of $46,800.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $150.0 to $220.0 for Paycom Software over the last 3 months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Paycom Software stands at 699.5, with a total volume reaching 2,592.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Paycom Software, situated within the strike price corridor from $150.0 to $220.0, throughout the last 30 days.
Paycom Software Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PAYC | PUT | SWEEP | BEARISH | 08/16/24 | $5.1 | $4.4 | $5.1 | $150.00 | $127.5K | 2.5K | 502 |
| PAYC | PUT | TRADE | BEARISH | 08/16/24 | $4.8 | $4.1 | $4.8 | $150.00 | $120.0K | 2.5K | 0 |
| PAYC | PUT | SWEEP | BEARISH | 08/16/24 | $9.0 | $8.5 | $9.0 | $160.00 | $107.1K | 190 | 119 |
| PAYC | PUT | SWEEP | BEARISH | 08/16/24 | $4.8 | $4.2 | $4.68 | $150.00 | $104.6K | 2.5K | 752 |
| PAYC | PUT | TRADE | BEARISH | 02/21/25 | $59.4 | $57.4 | $59.4 | $220.00 | $59.4K | 7 | 45 |
About Paycom Software
Paycom is a fast-growing provider of payroll and human capital management software primarily targeting clients with 50-10,000 employees in the United States. Paycom was established in 1998 and services about 19,500 clients as of 2023, based on parent company grouping. Alongside its core payroll software, Paycom offers various HCM add-on modules, including time and attendance, talent management, and benefits administration.
Paycom Software's Current Market Status
- Trading volume stands at 201,858, with PAYC's price up by 0.37%, positioned at $163.5.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 5 days.
What Analysts Are Saying About Paycom Software
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $161.0.
- Consistent in their evaluation, an analyst from Barclays keeps a Equal-Weight rating on Paycom Software with a target price of $161.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Paycom Software options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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