Deep-pocketed investors have adopted a bearish approach towards BJ's Wholesale Club BJ, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in BJ usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for BJ's Wholesale Club. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 18% leaning bullish and 63% bearish. Among these notable options, 3 are puts, totaling $374,793, and 8 are calls, amounting to $448,630.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $80.0 to $95.0 for BJ's Wholesale Club during the past quarter.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for BJ's Wholesale Club options trades today is 631.86 with a total volume of 13,065.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for BJ's Wholesale Club's big money trades within a strike price range of $80.0 to $95.0 over the last 30 days.
BJ's Wholesale Club Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BJ | PUT | SWEEP | BEARISH | 09/20/24 | $2.35 | $2.2 | $2.35 | $85.00 | $175.8K | 322 | 774 |
| BJ | PUT | SWEEP | BULLISH | 09/20/24 | $1.15 | $1.05 | $1.05 | $80.00 | $157.4K | 843 | 1.5K |
| BJ | CALL | SWEEP | BEARISH | 09/20/24 | $9.2 | $9.1 | $9.1 | $80.00 | $102.8K | 137 | 177 |
| BJ | CALL | SWEEP | BEARISH | 09/20/24 | $2.7 | $2.6 | $2.65 | $90.00 | $98.0K | 2.2K | 1.3K |
| BJ | CALL | SWEEP | BEARISH | 09/20/24 | $1.25 | $1.2 | $1.2 | $95.00 | $78.3K | 323 | 2.5K |
About BJ's Wholesale Club
BJ's Wholesale serves as one of the few warehouse club chains in the United States. Its more than 240 warehouses are primarily located along the East Coast, most prominently in the New England area. Similar to its warehouse club peers, BJ's charges annual membership fees and keeps costs down by operating a "no-frills" store environment. The company limits the use of distribution centers where possible and stores inventory on pallets directly on the sales floor, often in bulk quantities. The company also offers a limited assortment of stock-keeping units at its warehouses (around 7,000) to achieve greater procurement scale on select items. About 80% of BJ's net sales stem from grocery items and general merchandise, with the remaining 20% coming from gasoline and other ancillary services.
After a thorough review of the options trading surrounding BJ's Wholesale Club, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is BJ's Wholesale Club Standing Right Now?
- With a trading volume of 1,013,230, the price of BJ is up by 1.51%, reaching $87.8.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 1 days from now.
Expert Opinions on BJ's Wholesale Club
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $76.0.
- Maintaining their stance, an analyst from JP Morgan continues to hold a Underweight rating for BJ's Wholesale Club, targeting a price of $76.
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 BJ's Wholesale Club with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
