Deep-pocketed investors have adopted a bearish approach towards Tencent Music Enter Gr TME, 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 TME usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for Tencent Music Enter Gr. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 40% leaning bullish and 60% bearish. Among these notable options, 7 are puts, totaling $507,627, and 3 are calls, amounting to $113,150.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $11.0 to $22.0 for Tencent Music Enter Gr during the past quarter.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Tencent Music Enter Gr options trades today is 1108.0 with a total volume of 5,350.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Tencent Music Enter Gr's big money trades within a strike price range of $11.0 to $22.0 over the last 30 days.
Tencent Music Enter Gr 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| TME | PUT | TRADE | BULLISH | 01/17/25 | $1.75 | $1.65 | $1.65 | $12.00 | $174.9K | 1.8K | 1.0K |
| TME | PUT | TRADE | BULLISH | 09/20/24 | $2.9 | $2.6 | $2.6 | $14.00 | $78.0K | 392 | 300 |
| TME | PUT | SWEEP | BEARISH | 08/16/24 | $2.1 | $1.95 | $2.0 | $13.00 | $73.6K | 1.6K | 233 |
| TME | CALL | SWEEP | BEARISH | 01/16/26 | $0.45 | $0.3 | $0.3 | $22.00 | $60.6K | 20 | 2.0K |
| TME | PUT | TRADE | BEARISH | 01/17/25 | $2.35 | $2.25 | $2.35 | $13.00 | $47.0K | 2.5K | 210 |
About Tencent Music Enter Gr
Tencent Music is the largest online music service provider in China. It was founded in 2016 with the business combination of QQ Music (founded in 2005), Kuwo Music (founded in 2005) and Kugou Music (founded in 2004) streaming platforms. Tencent is the largest shareholder of TME with over 50% shares and over 90% voting rights held. TME also provides social entertainment services, including music live audio/video broadcasts and online concert services through the three platforms mentioned above, and online karaoke through an independent platform WeSing.
Following our analysis of the options activities associated with Tencent Music Enter Gr, we pivot to a closer look at the company's own performance.
Where Is Tencent Music Enter Gr Standing Right Now?
- Currently trading with a volume of 32,626,413, the TME's price is down by -15.19%, now at $11.13.
- RSI readings suggest the stock is currently may be oversold.
- Anticipated earnings release is in 0 days.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Tencent Music Enter Gr options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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