What the Options Market Tells Us About Axon Enterprise

Investors with a lot of money to spend have taken a bullish stance on Axon Enterprise AXON.

And retail traders should know.

We noticed this today when the trades 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 AXON, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 8 uncommon options trades for Axon Enterprise.

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 37%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $241,270, and 4 are calls, for a total amount of $175,490.

Projected Price Targets

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $290.0 to $420.0 for Axon Enterprise over the last 3 months.

Insights into Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Axon Enterprise's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Axon Enterprise's substantial trades, within a strike price spectrum from $290.0 to $420.0 over the preceding 30 days.

Axon Enterprise Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

About Axon Enterprise

Axon Enterprise Inc develops, manufactures, and sells conducted energy devices and cloud-based digital evidence management software designed for use by law enforcement, corrections, military forces, private security personnel, and private individuals for personal defense. The company operates in two segments: Taser and software & sensors. Taser develops and sells CEDs used for protecting users and virtual reality training. Software and sensors manufacture fully integrated hardware and cloud-based software solutions such as body cameras, automated license plate reading, and digital evidence management systems. Axon delivers its products worldwide and derives the majority of its revenue from the software & sensors segment and geographically from the United States.

Following our analysis of the options activities associated with Axon Enterprise, we pivot to a closer look at the company's own performance.

Where Is Axon Enterprise Standing Right Now?

• With a volume of 45,870, the price of AXON is up 0.2% at $374.45.
• RSI indicators hint that the underlying stock may be overbought.
• Next earnings are expected to be released in 78 days.

What The Experts Say On Axon Enterprise

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $375.2.

• Maintaining their stance, an analyst from Baird continues to hold a Outperform rating for Axon Enterprise, targeting a price of $360.
• Reflecting concerns, an analyst from JMP Securities lowers its rating to Market Outperform with a new price target of $375.
• An analyst from Northland Capital Markets has decided to maintain their Outperform rating on Axon Enterprise, which currently sits at a price target of $365.
• Maintaining their stance, an analyst from Craig-Hallum continues to hold a Buy rating for Axon Enterprise, targeting a price of $376.
• An analyst from Needham downgraded its action to Buy with a price target of $400.

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 Axon Enterprise options trades with real-time alerts from Benzinga Pro.