Investors with a lot of money to spend have taken a bullish stance on EMCOR Group EME.
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 EME, 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 11 uncommon options trades for EMCOR Group.
This isn't normal.
The overall sentiment of these big-money traders is split between 45% bullish and 36%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $274,300, and 6 are calls, for a total amount of $229,707.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $240.0 and $400.0 for EMCOR Group, spanning the last three months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of EMCOR Group stands at 62.0, with a total volume reaching 429.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in EMCOR Group, situated within the strike price corridor from $240.0 to $400.0, throughout the last 30 days.
EMCOR Group 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EME | CALL | SWEEP | NEUTRAL | 01/17/25 | $22.6 | $19.9 | $20.8 | $400.00 | $74.3K | 20 | 44 |
| EME | PUT | TRADE | BULLISH | 01/17/25 | $32.5 | $30.0 | $30.4 | $370.00 | $66.8K | 61 | 63 |
| EME | PUT | TRADE | BULLISH | 01/17/25 | $32.6 | $30.0 | $30.3 | $370.00 | $66.6K | 61 | 41 |
| EME | PUT | TRADE | BULLISH | 01/17/25 | $32.7 | $29.4 | $30.4 | $370.00 | $54.7K | 61 | 81 |
| EME | PUT | TRADE | BULLISH | 01/17/25 | $32.3 | $30.1 | $30.1 | $370.00 | $54.1K | 61 | 18 |
About EMCOR Group
EMCOR Group Inc is a specialty contractor in the United States and a provider of electrical and mechanical construction and facilities services, building services, and industrial services. Its services are provided to a broad range of commercial, technology, manufacturing, industrial, healthcare, utility, and institutional customers through approximately 100 operating subsidiaries. The company's operating subsidiaries are organized into reportable segments: United States electrical construction and facilities services, United States mechanical construction and facilities services, United States building services, United States industrial services, and United Kingdom building services. Geographically the majority of revenue is generated from the United States.
Having examined the options trading patterns of EMCOR Group, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of EMCOR Group
- With a volume of 81,892, the price of EME is down 0.0% at $366.59.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 66 days.
Professional Analyst Ratings for EMCOR Group
1 market experts have recently issued ratings for this stock, with a consensus target price of $430.0.
- Maintaining their stance, an analyst from DA Davidson continues to hold a Buy rating for EMCOR Group, targeting a price of $430.
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 EMCOR Group with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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