Investors with a lot of money to spend have taken a bearish stance on Chewy CHWY.
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 CHWY, 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 14 uncommon options trades for Chewy.
This isn't normal.
The overall sentiment of these big-money traders is split between 21% bullish and 71%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $214,998, and 8 are calls, for a total amount of $718,460.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $17.5 to $32.5 for Chewy over the recent three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Chewy stands at 4311.0, with a total volume reaching 7,053.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Chewy, situated within the strike price corridor from $17.5 to $32.5, throughout the last 30 days.
Chewy Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CHWY | CALL | SWEEP | BEARISH | 01/17/25 | $4.2 | $4.05 | $4.1 | $25.00 | $295.6K | 7.4K | 1.0K |
| CHWY | CALL | SWEEP | BEARISH | 01/17/25 | $2.11 | $1.99 | $1.99 | $32.50 | $122.5K | 3.2K | 700 |
| CHWY | CALL | TRADE | BEARISH | 01/17/25 | $4.2 | $4.05 | $4.1 | $25.00 | $114.3K | 7.4K | 285 |
| CHWY | CALL | SWEEP | BEARISH | 09/20/24 | $3.4 | $3.3 | $3.3 | $22.50 | $49.5K | 2.5K | 365 |
| CHWY | PUT | TRADE | BULLISH | 09/20/24 | $2.92 | $2.88 | $2.88 | $25.00 | $46.9K | 3.6K | 172 |
About Chewy
Chewy is the largest e-commerce pet care retailer in the US, generating $11.2 billion in 2023 sales across pet food, treats, hard goods, and pharmacy categories. The firm was founded in 2011, acquired by PetSmart in 2017, and tapped public markets as a stand-alone company in 2019 after spending a couple of years developing under the aegis of the pet superstore chain. The firm generates sales from pet food, treats, over-the-counter medications, medical prescription fulfillment, and hard goods, like crates, leashes, and bowls.
In light of the recent options history for Chewy, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Chewy
- With a volume of 4,604,351, the price of CHWY is down -3.85% at $23.25.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 27 days.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Chewy, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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