High-rolling investors have positioned themselves bullish on Coupang CPNG, 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 CPNG often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 12 options trades for Coupang. This is not a typical pattern.
The sentiment among these major traders is split, with 50% bullish and 33% bearish. Among all the options we identified, there was one put, amounting to $43,134, and 11 calls, totaling $969,614.
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 $15.5 and $25.0 for Coupang, spanning the last three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Coupang stands at 6718.67, with a total volume reaching 6,703.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Coupang, situated within the strike price corridor from $15.5 to $25.0, throughout the last 30 days.
Coupang 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CPNG | CALL | SWEEP | BULLISH | 11/15/24 | $1.87 | $1.65 | $1.65 | $22.00 | $292.5K | 1.3K | 1.7K |
| CPNG | CALL | TRADE | BEARISH | 08/09/24 | $3.7 | $2.5 | $2.84 | $18.00 | $142.0K | 1.0K | 0 |
| CPNG | CALL | SWEEP | BULLISH | 11/15/24 | $4.35 | $4.25 | $4.35 | $18.00 | $126.1K | 144 | 394 |
| CPNG | CALL | SWEEP | BEARISH | 08/09/24 | $3.8 | $3.25 | $3.21 | $18.00 | $80.3K | 1.0K | 740 |
| CPNG | CALL | TRADE | BEARISH | 08/09/24 | $3.8 | $3.2 | $3.2 | $18.00 | $76.8K | 1.0K | 500 |
About Coupang
Coupang Inc is an e-commerce company. It sells apparel, electronics, footwear, food products, furniture, nutritional supplements, and other products. Its segments include Product Commerce and Developing Offerings. The company generates maximum revenue from the Product Commerce segment. Product Commerce includes core retail (owned inventory) and marketplace offerings (third-party merchants) and Rocket Fresh, fresh grocery offering, as well as advertising products associated with these offerings.
Following our analysis of the options activities associated with Coupang, we pivot to a closer look at the company's own performance.
Present Market Standing of Coupang
- Trading volume stands at 10,762,808, with CPNG's price up by 6.1%, positioned at $21.93.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 90 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 Coupang, 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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