High-rolling investors have positioned themselves bullish on On Holding ONON, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in ONON often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 10 options trades for On Holding. This is not a typical pattern.
The sentiment among these major traders is split, with 50% bullish and 40% bearish. Among all the options we identified, there was one put, amounting to $40,586, and 9 calls, totaling $464,222.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $30.0 to $55.0 for On Holding during the past quarter.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for On Holding options trades today is 1676.4 with a total volume of 10,070.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for On Holding's big money trades within a strike price range of $30.0 to $55.0 over the last 30 days.
On Holding 30-Day Option Volume & Interest Snapshot
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 | TRADE | BULLISH | 09/20/24 | $15.85 | $14.65 | $15.85 | $30.00 | $79.2K | 725 | 100 |
| ONON | CALL | SWEEP | BULLISH | 10/18/24 | $1.38 | $1.22 | $1.34 | $47.50 | $66.7K | 3.8K | 1.5K |
| ONON | CALL | SWEEP | BEARISH | 10/18/24 | $1.33 | $1.28 | $1.29 | $47.50 | $64.1K | 3.8K | 2.6K |
| ONON | CALL | SWEEP | BEARISH | 10/18/24 | $1.37 | $1.33 | $1.33 | $47.50 | $54.6K | 3.8K | 403 |
| ONON | CALL | SWEEP | BULLISH | 10/18/24 | $1.05 | $1.04 | $1.04 | $47.50 | $52.0K | 3.8K | 2.1K |
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.
On Holding's Current Market Status
- With a trading volume of 3,273,544, the price of ONON is up by 1.61%, reaching $45.99.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 62 days from now.
Professional Analyst Ratings for On Holding
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $49.2.
- An analyst from TD Cowen has decided to maintain their Buy rating on On Holding, which currently sits at a price target of $50.
- An analyst from Truist Securities persists with their Buy rating on On Holding, maintaining a target price of $51.
- Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on On Holding with a target price of $46.
- An analyst from Barclays has decided to maintain their Overweight rating on On Holding, which currently sits at a price target of $47.
- An analyst from Piper Sandler downgraded its action to Overweight with a price target of $52.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest On Holding options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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