Investors with a lot of money to spend have taken a bearish stance on On Holding ONON.
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 ONON, 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 On Holding.
This isn't normal.
The overall sentiment of these big-money traders is split between 12% bullish and 87%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $70,704, and 6 are calls, for a total amount of $300,368.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $30.0 to $45.5 for On Holding over the recent three months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of On Holding stands at 1921.88, with a total volume reaching 3,800.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in On Holding, situated within the strike price corridor from $30.0 to $45.5, throughout the last 30 days.
On Holding 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ONON | CALL | SWEEP | BEARISH | 01/17/25 | $4.75 | $4.6 | $4.65 | $45.00 | $61.3K | 9.3K | 1 |
| ONON | CALL | TRADE | BEARISH | 09/20/24 | $1.44 | $1.11 | $1.11 | $45.50 | $55.5K | 0 | 0 |
| ONON | CALL | TRADE | BULLISH | 09/20/24 | $14.05 | $12.8 | $13.77 | $30.00 | $55.0K | 1.8K | 40 |
| ONON | CALL | SWEEP | BEARISH | 08/30/24 | $0.53 | $0.53 | $0.53 | $45.00 | $48.9K | 489 | 912 |
| ONON | CALL | TRADE | BEARISH | 10/18/24 | $2.41 | $2.36 | $2.36 | $45.00 | $47.2K | 2.8K | 600 |
About On Holding
On Holding AG is a premium performance sports brand rooted in technology, design, and impact. Its shoes, apparel, and accessories products are designed predominantly for athletic use, casual, or leisure purposes. It does not manufacture the products or the raw materials and relies instead on third-party suppliers and contract manufacturers. Geographically, it derives a majority of its revenue from the Americas and rest from Europe, Middle East and Africa, and Asia-Pacific region.
After a thorough review of the options trading surrounding On Holding, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is On Holding Standing Right Now?
- With a trading volume of 2,232,320, the price of ONON is up by 4.82%, reaching $43.74.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 83 days from now.
Expert Opinions on On Holding
5 market experts have recently issued ratings for this stock, with a consensus target price of $46.4.
- An analyst from Morgan Stanley persists with their Overweight rating on On Holding, maintaining a target price of $44.
- An analyst from Raymond James downgraded its action to Outperform with a price target of $46.
- An analyst from TD Cowen persists with their Buy rating on On Holding, maintaining a target price of $50.
- An analyst from Telsey Advisory Group persists with their Outperform rating on On Holding, maintaining a target price of $47.
- An analyst from Stifel has decided to maintain their Buy rating on On Holding, which currently sits at a price target of $45.
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 On Holding 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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