Whales with a lot of money to spend have taken a noticeably bearish stance on Costco Wholesale.
Looking at options history for Costco Wholesale COST we detected 28 trades.
If we consider the specifics of each trade, it is accurate to state that 17% of the investors opened trades with bullish expectations and 60% with bearish.
From the overall spotted trades, 15 are puts, for a total amount of $850,015 and 13, calls, for a total amount of $873,741.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $635.0 to $960.0 for Costco Wholesale over the last 3 months.
Volume & Open Interest Trends
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Costco Wholesale'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 Costco Wholesale's whale activity within a strike price range from $635.0 to $960.0 in the last 30 days.
Costco Wholesale 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| COST | CALL | TRADE | BEARISH | 01/17/25 | $49.7 | $49.1 | $49.1 | $900.00 | $196.4K | 1.0K | 40 |
| COST | PUT | TRADE | NEUTRAL | 09/20/24 | $16.8 | $16.25 | $16.5 | $840.00 | $132.0K | 438 | 80 |
| COST | CALL | SWEEP | BEARISH | 08/23/24 | $13.3 | $12.8 | $12.8 | $865.00 | $128.0K | 101 | 123 |
| COST | PUT | SWEEP | BEARISH | 09/20/24 | $25.8 | $24.6 | $25.25 | $870.00 | $126.2K | 103 | 35 |
| COST | CALL | TRADE | NEUTRAL | 08/16/24 | $191.0 | $183.0 | $187.11 | $680.00 | $93.5K | 6 | 5 |
About Costco Wholesale
Costco operates a membership-based, no-frills retail model, predicated on offering a select product assortment in bulk quantities at bargain prices. The firm avoids maintaining costly product displays by keeping inventory on pallets and limits distribution expenses by storing its inventory at point of sale in the warehouse. Given Costco's frugal cost structure, the firm is able to price its merchandise below competing retailers, driving high sales volume per warehouse and allowing the retailer to generate strong profits on thin margins. Costco operates over 600 warehouses in the United States and enjoys over 60% market share in the domestic warehouse club industry. Internationally, Costco operates another 270 warehouses, primarily in markets such as Canada, Mexico, Japan, and the UK.
Having examined the options trading patterns of Costco Wholesale, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Costco Wholesale
- Trading volume stands at 547,314, with COST's price down by -0.65%, positioned at $857.96.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 44 days.
Expert Opinions on Costco Wholesale
5 market experts have recently issued ratings for this stock, with a consensus target price of $930.4.
- An analyst from Telsey Advisory Group persists with their Outperform rating on Costco Wholesale, maintaining a target price of $925.
- An analyst from Gordon Haskett upgraded its action to Buy with a price target of $925.
- An analyst from Oppenheimer has decided to maintain their Outperform rating on Costco Wholesale, which currently sits at a price target of $925.
- An analyst from BMO Capital persists with their Outperform rating on Costco Wholesale, maintaining a target price of $950.
- An analyst from Deutsche Bank persists with their Buy rating on Costco Wholesale, maintaining a target price of $927.
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 Costco Wholesale with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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