Investors with a lot of money to spend have taken a bullish stance on PACCAR PCAR.
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 PCAR, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 13 options trades for PACCAR.
This isn't normal.
The overall sentiment of these big-money traders is split between 92% bullish and 7%, bearish.
Out of all of the options we uncovered, 12 are puts, for a total amount of $584,329, and there was 1 call, for a total amount of $216,480.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $86.8 and $100.0 for PACCAR, spanning the last three months.
Insights into Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in PACCAR's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to PACCAR's substantial trades, within a strike price spectrum from $86.8 to $100.0 over the preceding 30 days.
PACCAR 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PCAR | CALL | TRADE | BULLISH | 01/17/25 | $13.2 | $12.0 | $13.2 | $86.80 | $216.4K | 214 | 164 |
| PCAR | PUT | SWEEP | BULLISH | 08/16/24 | $8.0 | $7.1 | $7.1 | $100.00 | $111.4K | 3.3K | 497 |
| PCAR | PUT | SWEEP | BULLISH | 08/16/24 | $8.9 | $6.9 | $6.9 | $100.00 | $73.1K | 3.3K | 331 |
| PCAR | PUT | SWEEP | BULLISH | 08/16/24 | $7.1 | $6.1 | $6.1 | $100.00 | $60.3K | 3.3K | 1.9K |
| PCAR | PUT | SWEEP | BULLISH | 08/16/24 | $7.4 | $6.5 | $6.5 | $100.00 | $54.6K | 3.3K | 2.1K |
About PACCAR
Paccar is a leading manufacturer of medium- and heavy-duty trucks under the premium brands Kenworth and Peterbilt (primarily sold in the NAFTA region and Australia), and DAF trucks (sold in Europe and South America). The company's trucks are sold through more than 2,300 independent dealers globally. Paccar Financial Services provides retail and wholesale financing for customers and dealers, respectively. The company commands roughly 30% of the Class 8 market share in North America and 17% of the heavy-duty market share in Europe.
After a thorough review of the options trading surrounding PACCAR, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
PACCAR's Current Market Status
- With a trading volume of 2,657,617, the price of PCAR is down by -2.24%, reaching $94.14.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 81 days from now.
Expert Opinions on PACCAR
3 market experts have recently issued ratings for this stock, with a consensus target price of $110.33333333333333.
- Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for PACCAR, targeting a price of $115.
- An analyst from Truist Securities has decided to maintain their Hold rating on PACCAR, which currently sits at a price target of $107.
- An analyst from Deutsche Bank persists with their Buy rating on PACCAR, maintaining a target price of $109.
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 PACCAR, Benzinga Pro gives you real-time options trades alerts.
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