Investors with a lot of money to spend have taken a bullish stance on On Holding ONON.
And retail traders should know.
We noticed this today when the positions 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.
Today, Benzinga's options scanner spotted 29 options trades for On Holding.
This isn't normal.
The overall sentiment of these big-money traders is split between 37% bullish and 34%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $30,300, and 28, calls, for a total amount of $1,511,245.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $32.5 to $52.5 for On Holding over the recent three months.
Insights into Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in On Holding's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to On Holding's substantial trades, within a strike price spectrum from $32.5 to $52.5 over the preceding 30 days.
On Holding Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| 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 | $6.25 | $6.15 | $6.2 | $45.00 | $137.0K | 9.2K | 1.0K |
| ONON | CALL | SWEEP | BEARISH | 09/20/24 | $14.4 | $14.2 | $14.35 | $32.50 | $136.2K | 3.5K | 769 |
| ONON | CALL | SWEEP | BEARISH | 09/20/24 | $14.4 | $14.3 | $14.3 | $32.50 | $118.9K | 3.5K | 432 |
| ONON | CALL | SWEEP | NEUTRAL | 09/20/24 | $14.4 | $14.3 | $14.35 | $32.50 | $117.6K | 3.5K | 609 |
| ONON | CALL | SWEEP | NEUTRAL | 09/20/24 | $11.9 | $11.8 | $11.85 | $35.00 | $79.3K | 10.3K | 1.3K |
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 volume of 1,082,074, the price of ONON is down -1.38% at $46.33.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 70 days.
What Analysts Are Saying About On Holding
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $47.8.
- An analyst from Stifel has decided to maintain their Buy rating on On Holding, which currently sits at a price target of $45.
- Maintaining their stance, an analyst from Telsey Advisory Group continues to hold a Outperform rating for On Holding, targeting a price of $47.
- Maintaining their stance, an analyst from Truist Securities continues to hold a Buy rating for On Holding, targeting a price of $51.
- Consistent in their evaluation, an analyst from TD Cowen keeps a Buy rating on On Holding with a target price of $50.
- An analyst from Morgan Stanley persists with their Overweight rating on On Holding, maintaining a target price of $46.
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 On Holding, 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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