Cinemark Hldgs Unusual Options Activity For August 02

High-rolling investors have positioned themselves bullish on Cinemark Hldgs CNK, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in CNK often signals that someone has privileged information.

Today, Benzinga's options scanner spotted 9 options trades for Cinemark Hldgs. This is not a typical pattern.

The sentiment among these major traders is split, with 44% bullish and 33% bearish. Among all the options we identified, there was one put, amounting to $1,550,000, and 8 calls, totaling $417,480.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $17.0 and $25.0 for Cinemark Hldgs, spanning the last three months.

Insights into Volume & Open Interest

In today's trading context, the average open interest for options of Cinemark Hldgs stands at 1748.0, with a total volume reaching 11,029.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Cinemark Hldgs, situated within the strike price corridor from $17.0 to $25.0, throughout the last 30 days.

Cinemark Hldgs Option Activity Analysis: Last 30 Days

Significant Options Trades Detected:

About Cinemark Hldgs

Cinemark Holdings Inc is geographically diverse operators in the motion picture exhibition industry in the United States. The company operates in around 518 theatres and 5,847 screens in the United States and Latin America. The company generates revenue from filmed entertainment box office receipts and concession sales, with additional revenue from screen advertising, screen rental and other revenue streams, such as transactional fees, vendor marketing promotions, studio trailer placements, meeting rentals and electronic video games located in some of the theatres. Majority of Cinemark's theaters are located in midsize cities or suburbs of large cities.

Following our analysis of the options activities associated with Cinemark Hldgs, we pivot to a closer look at the company's own performance.

Present Market Standing of Cinemark Hldgs

• With a volume of 8,460,796, the price of CNK is up 7.62% at $24.85.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 0 days.

What Analysts Are Saying About Cinemark Hldgs

A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $25.5.

• Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Cinemark Hldgs with a target price of $26.
• An analyst from Wedbush downgraded its action to Outperform with a price target of $25.
• An analyst from Macquarie has decided to maintain their Outperform rating on Cinemark Hldgs, which currently sits at a price target of $24.
• An analyst from B. Riley Securities upgraded its action to Buy with a price target of $27.

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 Cinemark Hldgs, Benzinga Pro gives you real-time options trades alerts.