Check Out What Whales Are Doing With Kellanova

Investors with a lot of money to spend have taken a bearish stance on Kellanova K.

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 K, 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 8 uncommon options trades for Kellanova.

This isn't normal.

The overall sentiment of these big-money traders is split between 37% bullish and 50%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $384,650, and 4 are calls, for a total amount of $154,058.

Projected Price Targets

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $55.0 to $80.0 for Kellanova over the last 3 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 Kellanova's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Kellanova's substantial trades, within a strike price spectrum from $55.0 to $80.0 over the preceding 30 days.

Kellanova Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

About Kellanova

Following its split from the North American cereal business, Kellanova (previously the global snacking arm of Kellogg) is a leading global manufacturer and marketer of salty snacks, snack bars, frozen breakfast fare, meat alternatives, and other packaged foods. Its offerings are manufactured in around 20 countries and marketed in more than 180 countries. Its product mix includes well-known brands such as Pringles, Cheez-It, Rice Krispies Treats, Pop-Tarts, Eggo, Nutri-Grain, and MorningStar Farms. Sales beyond its home turf account for about half of Kellanova's consolidated sales base.

In light of the recent options history for Kellanova, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Where Is Kellanova Standing Right Now?

• Currently trading with a volume of 3,221,374, the K's price is up by 0.31%, now at $73.58.
• RSI readings suggest the stock is currently may be overbought.
• Anticipated earnings release is in 91 days.

What The Experts Say On Kellanova

In the last month, 5 experts released ratings on this stock with an average target price of $63.6.

• Maintaining their stance, an analyst from Barclays continues to hold a Equal-Weight rating for Kellanova, targeting a price of $61.
• An analyst from RBC Capital has decided to maintain their Sector Perform rating on Kellanova, which currently sits at a price target of $62.
• Consistent in their evaluation, an analyst from B of A Securities keeps a Neutral rating on Kellanova with a target price of $62.
• Showing optimism, an analyst from B of A Securities upgrades its rating to Buy with a revised price target of $70.
• Maintaining their stance, an analyst from Piper Sandler continues to hold a Neutral rating for Kellanova, targeting a price of $63.

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 Kellanova with Benzinga Pro for real-time alerts.