Whales with a lot of money to spend have taken a noticeably bullish stance on Paychex.
Looking at options history for Paychex PAYX we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 37% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $254,166 and 2, calls, for a total amount of $79,074.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $110.0 to $130.0 for Paychex over the recent three 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 Paychex'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 Paychex's whale activity within a strike price range from $110.0 to $130.0 in the last 30 days.
Paychex Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PAYX | PUT | SWEEP | BEARISH | 12/20/24 | $1.45 | $1.25 | $1.45 | $110.00 | $69.7K | 3.1K | 19 |
| PAYX | PUT | SWEEP | BEARISH | 12/20/24 | $2.5 | $2.35 | $2.5 | $120.00 | $53.0K | 6.0K | 1.4K |
| PAYX | CALL | TRADE | NEUTRAL | 09/20/24 | $12.6 | $12.2 | $12.42 | $120.00 | $52.1K | 350 | 0 |
| PAYX | PUT | SWEEP | BULLISH | 12/20/24 | $2.95 | $2.85 | $2.85 | $120.00 | $39.0K | 6.0K | 815 |
| PAYX | PUT | SWEEP | BULLISH | 12/20/24 | $3.3 | $3.1 | $3.1 | $120.00 | $38.7K | 6.0K | 96 |
About Paychex
Paychex is a leading provider of payroll, human capital management, and insurance solutions servicing small and midsize clients primarily in the United States. The company, established in 1979, services over 745,000 clients and pays over 1 in 12 U.S. private-sector workers. Alongside its traditional payroll services, Paychex offers HCM solutions such as benefits administration and time and attendance software, as well as human resources outsourcing and insurance agency services.
In light of the recent options history for Paychex, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Paychex
- Currently trading with a volume of 1,084,409, the PAYX's price is down by -0.92%, now at $132.88.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 14 days.
Professional Analyst Ratings for Paychex
1 market experts have recently issued ratings for this stock, with a consensus target price of $128.0.
- An analyst from JP Morgan has decided to maintain their Underweight rating on Paychex, which currently sits at a price target of $128.
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 Paychex with Benzinga Pro for real-time alerts.
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