High-rolling investors have positioned themselves bearish on Celestica CLS, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in CLS often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for Celestica. This is not a typical pattern.
The sentiment among these major traders is split, with 12% bullish and 75% bearish. Among all the options we identified, there was one put, amounting to $31,416, and 7 calls, totaling $547,620.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $45.0 to $62.5 for Celestica during the past quarter.
Insights into Volume & Open Interest
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 Celestica'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 Celestica's whale activity within a strike price range from $45.0 to $62.5 in the last 30 days.
Celestica 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CLS | CALL | TRADE | BEARISH | 10/18/24 | $3.6 | $3.4 | $3.45 | $57.50 | $172.5K | 478 | 500 |
| CLS | CALL | SWEEP | BEARISH | 10/18/24 | $5.1 | $3.6 | $3.6 | $57.50 | $118.4K | 478 | 1.0K |
| CLS | CALL | TRADE | BEARISH | 09/20/24 | $1.35 | $1.25 | $1.25 | $62.50 | $100.0K | 680 | 203 |
| CLS | CALL | SWEEP | BEARISH | 10/18/24 | $3.5 | $3.3 | $3.5 | $57.50 | $67.5K | 478 | 735 |
| CLS | CALL | SWEEP | BULLISH | 08/23/24 | $1.25 | $1.1 | $1.2 | $56.00 | $34.4K | 68 | 391 |
About Celestica
Celestica Inc offers supply chain solutions. The company has two operating and reportable segments: Advanced Technology Solutions (ATS) and Connectivity & Cloud Solutions (CCS). The ATS segment consists of the ATS end market and is comprised of the Aerospace and Defense, Industrial, health tech, and Capital Equipment businesses. Its Capital Equipment business is comprised of the semiconductor, display, and robotics equipment businesses, and the CCS segment consists of Communications and Enterprise end markets, Enterprise end market is comprised of its servers and storage businesses. The company generates a majority of its revenue from the Connectivity & Cloud Solutions segment.
Celestica's Current Market Status
- Trading volume stands at 1,013,357, with CLS's price up by 2.14%, positioned at $53.39.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 69 days.
What The Experts Say On Celestica
4 market experts have recently issued ratings for this stock, with a consensus target price of $63.25.
- An analyst from Canaccord Genuity persists with their Buy rating on Celestica, maintaining a target price of $70.
- Maintaining their stance, an analyst from CIBC continues to hold a Neutral rating for Celestica, targeting a price of $60.
- An analyst from Stifel has decided to maintain their Hold rating on Celestica, which currently sits at a price target of $58.
- Consistent in their evaluation, an analyst from RBC Capital keeps a Outperform rating on Celestica with a target price of $65.
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 Celestica with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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