Investors with a lot of money to spend have taken a bullish stance on Sweetgreen SG.
And retail traders should know.
We noticed this today when the positions 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 SG, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 10 options trades for Sweetgreen.
This isn't normal.
The overall sentiment of these big-money traders is split between 40% bullish and 40%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $58,740, and 9, calls, for a total amount of $333,680.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $33.0 and $50.0 for Sweetgreen, spanning the last three months.
Volume & Open Interest Development
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 Sweetgreen'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 Sweetgreen's whale activity within a strike price range from $33.0 to $50.0 in the last 30 days.
Sweetgreen Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SG | CALL | SWEEP | BEARISH | 07/18/25 | $5.8 | $5.7 | $5.8 | $50.00 | $86.4K | 1.5K | 236 |
| SG | PUT | TRADE | NEUTRAL | 04/17/25 | $9.0 | $8.8 | $8.9 | $39.00 | $58.7K | 0 | 67 |
| SG | CALL | TRADE | BULLISH | 10/18/24 | $3.9 | $3.8 | $3.9 | $37.00 | $39.0K | 49 | 140 |
| SG | CALL | TRADE | BULLISH | 01/17/25 | $7.3 | $7.0 | $7.2 | $35.00 | $36.0K | 371 | 50 |
| SG | CALL | TRADE | BEARISH | 08/16/24 | $4.5 | $4.3 | $4.3 | $33.00 | $31.8K | 6.3K | 661 |
About Sweetgreen
Sweetgreen Inc is a next-generation restaurant and lifestyle brand that serves healthy food at scale. It is creating plant-forward, seasonal, and earth-friendly meals from fresh ingredients and produce that prioritizes organic, regenerative, and local sourcing.
After a thorough review of the options trading surrounding Sweetgreen, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Sweetgreen's Current Market Status
- With a volume of 4,905,198, the price of SG is up 1.55% at $37.34.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 76 days.
Expert Opinions on Sweetgreen
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $34.4.
- Consistent in their evaluation, an analyst from Oppenheimer keeps a Outperform rating on Sweetgreen with a target price of $40.
- An analyst from Citigroup has decided to maintain their Neutral rating on Sweetgreen, which currently sits at a price target of $32.
- An analyst from Morgan Stanley has decided to maintain their Equal-Weight rating on Sweetgreen, which currently sits at a price target of $27.
- An analyst from UBS has decided to maintain their Buy rating on Sweetgreen, which currently sits at a price target of $37.
- An analyst from Oppenheimer has decided to maintain their Outperform rating on Sweetgreen, which currently sits at a price target of $36.
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 Sweetgreen with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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