Investors with significant funds have taken a bullish position in Enovix ENVX, a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in ENVX usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 10 options transactions for Enovix. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 80% being bullish and 10% bearish. Of all the options we discovered, 9 are puts, valued at $407,041, and there was a single call, worth $25,972.
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 $9.0 to $12.0 for Enovix during the past quarter.
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 Enovix'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 Enovix's whale activity within a strike price range from $9.0 to $12.0 in the last 30 days.
Enovix 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ENVX | PUT | SWEEP | BEARISH | 09/20/24 | $1.45 | $1.44 | $1.45 | $9.00 | $61.0K | 4.9K | 1.9K |
| ENVX | PUT | SWEEP | BULLISH | 09/20/24 | $1.45 | $1.45 | $1.45 | $9.00 | $57.7K | 4.9K | 970 |
| ENVX | PUT | SWEEP | BULLISH | 09/20/24 | $1.66 | $1.54 | $1.54 | $9.00 | $55.9K | 4.9K | 3.0K |
| ENVX | PUT | SWEEP | BULLISH | 09/20/24 | $1.53 | $1.49 | $1.49 | $9.00 | $47.3K | 4.9K | 493 |
| ENVX | PUT | SWEEP | NEUTRAL | 09/20/24 | $4.5 | $4.4 | $4.45 | $12.00 | $44.5K | 2.5K | 150 |
About Enovix
Enovix Corp is engaged in the business of advanced silicon-anode lithium-ion battery development and production. It is also developing its 3D cell technology and production process for the electric vehicle and energy storage markets to help enable the widespread utilization of renewable energy.
Where Is Enovix Standing Right Now?
- With a trading volume of 793,711, the price of ENVX is up by 0.85%, reaching $7.67.
- Current RSI values indicate that the stock is may be oversold.
- Next earnings report is scheduled for 56 days from now.
What The Experts Say On Enovix
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $36.0.
- Consistent in their evaluation, an analyst from Oppenheimer keeps a Outperform rating on Enovix with a target price of $36.
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 Enovix, 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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