Bath & Body Works's Options Frenzy: What You Need to Know

Deep-pocketed investors have adopted a bearish approach towards Bath & Body Works BBWI, 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 BBWI usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 18 extraordinary options activities for Bath & Body Works. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 33% leaning bullish and 61% bearish. Among these notable options, 5 are puts, totaling $250,360, and 13 are calls, amounting to $428,498.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $25.0 to $40.0 for Bath & Body Works over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Bath & Body Works options trades today is 616.2 with a total volume of 7,239.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Bath & Body Works's big money trades within a strike price range of $25.0 to $40.0 over the last 30 days.

Bath & Body Works Option Volume And Open Interest Over Last 30 Days

Largest Options Trades Observed:

About Bath & Body Works

Bath & Body Works is a specialty home fragrance and fragrant body care retailer operating under the Bath & Body Works, C.O. Bigelow, and White Barn brands. The company generates most of its business in North America, with just 5% of sales from international markets in fiscal 2023. For fiscal 2023, 74% of sales stemmed from the brick-and-mortar network (which was composed of more than 1,800 retail stores), similar to 2022 levels, as consumer shopping patterns remained to normal. Future growth is expected from store reformatting, digital and international channels, as well as adjacent category expansion.

Following our analysis of the options activities associated with Bath & Body Works, we pivot to a closer look at the company's own performance.

Where Is Bath & Body Works Standing Right Now?

• With a volume of 7,178,043, the price of BBWI is up 0.46% at $35.32.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 1 days.

What The Experts Say On Bath & Body Works

4 market experts have recently issued ratings for this stock, with a consensus target price of $43.5.

• An analyst from Telsey Advisory Group has decided to maintain their Outperform rating on Bath & Body Works, which currently sits at a price target of $53.
• An analyst from Citigroup has decided to maintain their Neutral rating on Bath & Body Works, which currently sits at a price target of $35.
• Maintaining their stance, an analyst from Barclays continues to hold a Equal-Weight rating for Bath & Body Works, targeting a price of $32.
• Maintaining their stance, an analyst from Deutsche Bank continues to hold a Buy rating for Bath & Body Works, targeting a price of $54.

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 Bath & Body Works with Benzinga Pro for real-time alerts.