Investors with a lot of money to spend have taken a bearish stance on Papa John's International PZZA.
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 PZZA, 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 Papa John's International.
This isn't normal.
The overall sentiment of these big-money traders is split between 12% bullish and 62%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $160,116, and 4 are calls, for a total amount of $690,598.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $37.5 and $60.0 for Papa John's International, spanning the last three months.
Analyzing 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 Papa John's International'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 Papa John's International's whale trades within a strike price range from $37.5 to $60.0 in the last 30 days.
Papa John's International Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PZZA | CALL | SWEEP | BULLISH | 01/17/25 | $3.2 | $2.9 | $3.12 | $55.00 | $468.9K | 3.4K | 2.0K |
| PZZA | CALL | SWEEP | NEUTRAL | 01/17/25 | $3.0 | $2.6 | $3.0 | $55.00 | $138.9K | 3.4K | 464 |
| PZZA | PUT | SWEEP | NEUTRAL | 09/20/24 | $2.5 | $2.45 | $2.48 | $45.00 | $55.1K | 82 | 463 |
| PZZA | CALL | TRADE | BEARISH | 08/16/24 | $1.85 | $1.6 | $1.7 | $45.00 | $44.2K | 1.2K | 482 |
| PZZA | PUT | SWEEP | BEARISH | 09/20/24 | $2.45 | $2.3 | $2.44 | $45.00 | $42.5K | 82 | 212 |
About Papa John's International
Papa John's is one of the largest players in the global QSR, or quick-service restaurant, pizza market, boasting more than 5,900 restaurants across nearly 50 countries at the end of 2023. The firm operates a predominantly franchised system, owning 11% of its restaurants and generating revenue from franchise royalties, sales of pizza and related products at its company-owned stores, and sales from its commissary supply chain. The firm is the fourth-largest limited-service pizza chain both in the US and globally, with a sizable presence in the UK, China, South Korea, and Chile.
In light of the recent options history for Papa John's International, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Papa John's International
- Currently trading with a volume of 1,054,758, the PZZA's price is up by 2.76%, now at $46.1.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 80 days.
Professional Analyst Ratings for Papa John's International
5 market experts have recently issued ratings for this stock, with a consensus target price of $52.6.
- An analyst from BMO Capital has decided to maintain their Outperform rating on Papa John's International, which currently sits at a price target of $65.
- An analyst from Keybanc has decided to maintain their Overweight rating on Papa John's International, which currently sits at a price target of $50.
- Consistent in their evaluation, an analyst from Piper Sandler keeps a Neutral rating on Papa John's International with a target price of $50.
- Reflecting concerns, an analyst from Wedbush lowers its rating to Outperform with a new price target of $51.
- An analyst from UBS persists with their Neutral rating on Papa John's International, maintaining a target price of $47.
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 Papa John's International with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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