Investors with a lot of money to spend have taken a bearish stance on Symbotic SYM.
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 this is an institution or just a wealthy individual, we don't know. But when something this big happens with SYM, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 13 options trades for Symbotic.
This isn't normal.
The overall sentiment of these big-money traders is split between 38% bullish and 61%, bearish.
Out of all of the options we uncovered, 12 are puts, for a total amount of $1,945,000, and there was 1 call, for a total amount of $25,760.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $20.0 to $25.0 for Symbotic over the last 3 months.
Analyzing Volume & Open Interest
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 Symbotic'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 Symbotic's whale activity within a strike price range from $20.0 to $25.0 in the last 30 days.
Symbotic Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SYM | PUT | TRADE | BEARISH | 09/20/24 | $2.5 | $2.15 | $2.45 | $23.00 | $1.2M | 2.4K | 5.0K |
| SYM | PUT | TRADE | BULLISH | 09/20/24 | $1.2 | $1.05 | $1.1 | $20.00 | $118.9K | 37.4K | 611 |
| SYM | PUT | TRADE | BULLISH | 09/20/24 | $1.4 | $1.1 | $1.15 | $20.00 | $114.0K | 37.4K | 2.6K |
| SYM | PUT | TRADE | BEARISH | 09/20/24 | $2.45 | $2.35 | $2.5 | $23.00 | $100.0K | 2.4K | 5.6K |
| SYM | PUT | SWEEP | BEARISH | 09/20/24 | $2.5 | $2.45 | $2.49 | $23.00 | $91.2K | 2.4K | 6.5K |
About Symbotic
Symbotic Inc is an automation technology company that develops technologies to improve operating efficiencies in modern warehouses. The group develops, commercializes, and deploys innovative, end-to-end technology solutions that dramatically improve supply chain operations. Symbotic also automates the processing of pallets and cases in large warehouses or distribution centers for some of the retail and wholesale companies in the world. The company operates in two geographical regions the United States and Canada. Key revenue is generated from the United States.
After a thorough review of the options trading surrounding Symbotic, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Symbotic Standing Right Now?
- Currently trading with a volume of 1,164,299, the SYM's price is up by 0.81%, now at $23.55.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 84 days.
What Analysts Are Saying About Symbotic
5 market experts have recently issued ratings for this stock, with a consensus target price of $40.8.
- An analyst from Baird has decided to maintain their Outperform rating on Symbotic, which currently sits at a price target of $41.
- Maintaining their stance, an analyst from Goldman Sachs continues to hold a Neutral rating for Symbotic, targeting a price of $30.
- Consistent in their evaluation, an analyst from Northland Capital Markets keeps a Outperform rating on Symbotic with a target price of $50.
- An analyst from Needham has decided to maintain their Buy rating on Symbotic, which currently sits at a price target of $40.
- Maintaining their stance, an analyst from TD Cowen continues to hold a Buy rating for Symbotic, targeting a price of $43.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Symbotic, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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