Whales with a lot of money to spend have taken a noticeably bullish stance on Align Tech.
Looking at options history for Align Tech ALGN we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 37% of the investors opened trades with bullish expectations and 37% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $229,860 and 3, calls, for a total amount of $341,228.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $160.0 to $280.0 for Align Tech over the last 3 months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Align Tech options trades today is 127.12 with a total volume of 540.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Align Tech's big money trades within a strike price range of $160.0 to $280.0 over the last 30 days.
Align Tech Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ALGN | CALL | SWEEP | NEUTRAL | 01/17/25 | $21.1 | $19.3 | $20.5 | $240.00 | $195.0K | 177 | 39 |
| ALGN | CALL | TRADE | NEUTRAL | 01/17/25 | $10.5 | $9.0 | $9.75 | $280.00 | $117.0K | 239 | 5 |
| ALGN | PUT | SWEEP | BEARISH | 10/18/24 | $40.1 | $37.2 | $40.2 | $260.00 | $80.4K | 172 | 1 |
| ALGN | PUT | SWEEP | BEARISH | 07/26/24 | $5.2 | $4.3 | $5.2 | $230.00 | $51.4K | 130 | 106 |
| ALGN | PUT | TRADE | BULLISH | 01/17/25 | $23.2 | $22.8 | $22.8 | $220.00 | $38.7K | 74 | 18 |
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.
After a thorough review of the options trading surrounding Align Tech, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Align Tech
- Trading volume stands at 950,728, with ALGN's price down by -2.36%, positioned at $220.72.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 89 days.
What The Experts Say On Align Tech
In the last month, 5 experts released ratings on this stock with an average target price of $326.0.
- Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Align Tech with a target price of $310.
- Maintaining their stance, an analyst from Baird continues to hold a Outperform rating for Align Tech, targeting a price of $325.
- Consistent in their evaluation, an analyst from Piper Sandler keeps a Overweight rating on Align Tech with a target price of $330.
- Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for Align Tech, targeting a price of $315.
- Consistent in their evaluation, an analyst from Stifel keeps a Buy rating on Align Tech with a target price of $350.
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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