Deep-pocketed investors have adopted a bearish approach towards Enphase Energy ENPH, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in ENPH usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for Enphase Energy. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 33% leaning bullish and 55% bearish. Among these notable options, 4 are puts, totaling $125,710, and 5 are calls, amounting to $186,362.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $105.0 to $175.0 for Enphase Energy over the last 3 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 Enphase Energy'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 Enphase Energy's whale trades within a strike price range from $105.0 to $175.0 in the last 30 days.
Enphase Energy Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ENPH | CALL | SWEEP | BEARISH | 08/16/24 | $2.71 | $2.49 | $2.49 | $112.00 | $49.8K | 593 | 252 |
| ENPH | CALL | SWEEP | BEARISH | 08/16/24 | $1.35 | $1.33 | $1.33 | $114.00 | $39.9K | 534 | 434 |
| ENPH | PUT | TRADE | NEUTRAL | 01/16/26 | $75.1 | $71.75 | $73.28 | $175.00 | $36.6K | 20 | 5 |
| ENPH | CALL | SWEEP | BULLISH | 08/16/24 | $0.82 | $0.69 | $0.82 | $117.00 | $34.8K | 514 | 430 |
| ENPH | CALL | TRADE | BULLISH | 09/20/24 | $11.6 | $11.25 | $11.6 | $105.00 | $34.8K | 578 | 31 |
About Enphase Energy
Enphase Energy is a global energy technology company. The company delivers smart, easy-to-use solutions that manage solar generation, storage, and communication on one platform. The company's microinverter technology primarily serves the rooftop solar market and produces a fully integrated solar-plus-storage solution. Geographically, it derives a majority of revenue from the United States.
In light of the recent options history for Enphase Energy, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Enphase Energy's Current Market Status
- With a trading volume of 617,860, the price of ENPH is up by 0.6%, reaching $109.76.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 72 days from now.
What Analysts Are Saying About Enphase Energy
5 market experts have recently issued ratings for this stock, with a consensus target price of $138.0.
- An analyst from JP Morgan has decided to maintain their Overweight rating on Enphase Energy, which currently sits at a price target of $130.
- Maintaining their stance, an analyst from Piper Sandler continues to hold a Neutral rating for Enphase Energy, targeting a price of $120.
- Maintaining their stance, an analyst from Susquehanna continues to hold a Positive rating for Enphase Energy, targeting a price of $147.
- An analyst from Canaccord Genuity has decided to maintain their Buy rating on Enphase Energy, which currently sits at a price target of $140.
- An analyst from Craig-Hallum persists with their Buy rating on Enphase Energy, maintaining a target price of $153.
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 Enphase Energy with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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