Investors with a lot of money to spend have taken a bearish stance on Zions Bancorp ZION.
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 ZION, 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 11 uncommon options trades for Zions Bancorp.
This isn't normal.
The overall sentiment of these big-money traders is split between 36% bullish and 63%, bearish.
Out of all of the special options we uncovered, 9 are puts, for a total amount of $1,063,673, and 2 are calls, for a total amount of $744,725.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $30.0 and $47.5 for Zions Bancorp, spanning the last three months.
Insights into Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Zions Bancorp's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Zions Bancorp's whale trades within a strike price range from $30.0 to $47.5 in the last 30 days.
Zions Bancorp 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ZION | CALL | SWEEP | BULLISH | 10/18/24 | $3.0 | $2.4 | $2.4 | $47.50 | $482.6K | 523 | 2 |
| ZION | PUT | SWEEP | BULLISH | 12/20/24 | $2.1 | $2.05 | $2.1 | $40.00 | $396.0K | 44 | 1.7K |
| ZION | CALL | SWEEP | BULLISH | 10/18/24 | $2.65 | $2.55 | $2.65 | $47.50 | $262.0K | 523 | 3.0K |
| ZION | PUT | SWEEP | BEARISH | 12/20/24 | $2.2 | $2.05 | $2.1 | $40.00 | $202.4K | 44 | 5.0K |
| ZION | PUT | SWEEP | BEARISH | 12/20/24 | $2.15 | $2.1 | $2.15 | $40.00 | $156.5K | 44 | 728 |
About Zions Bancorp
Zions Bancorporation is a regional U.S. bank with core operations that span 11 states. The bank is headquartered in Salt Lake City and does business primarily in the Western and Southwestern United States. Zions primarily focuses on providing banking services to small and midsize businesses, with the bulk of its loans focused on commercial and commercial real estate lending.
After a thorough review of the options trading surrounding Zions Bancorp, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Zions Bancorp's Current Market Status
- Trading volume stands at 2,306,442, with ZION's price down by -4.13%, positioned at $46.61.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 80 days.
What Analysts Are Saying About Zions Bancorp
In the last month, 5 experts released ratings on this stock with an average target price of $49.8.
- An analyst from RBC Capital has decided to maintain their Sector Perform rating on Zions Bancorp, which currently sits at a price target of $48.
- Maintaining their stance, an analyst from Morgan Stanley continues to hold a Underweight rating for Zions Bancorp, targeting a price of $42.
- An analyst from Stephens & Co. persists with their Equal-Weight rating on Zions Bancorp, maintaining a target price of $51.
- Maintaining their stance, an analyst from RBC Capital continues to hold a Sector Perform rating for Zions Bancorp, targeting a price of $54.
- Maintaining their stance, an analyst from Goldman Sachs continues to hold a Neutral rating for Zions Bancorp, targeting a price of $54.
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 Zions Bancorp with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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