Investors with a lot of money to spend have taken a bullish stance on Coherent COHR.
And retail traders should know.
We noticed this today when the trades 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 COHR, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 9 uncommon options trades for Coherent.
This isn't normal.
The overall sentiment of these big-money traders is split between 66% bullish and 22%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $635,755, and 2 are calls, for a total amount of $66,961.
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 $67.0 to $95.0 for Coherent over the last 3 months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Coherent stands at 832.83, with a total volume reaching 4,353.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Coherent, situated within the strike price corridor from $67.0 to $95.0, throughout the last 30 days.
Coherent Option Activity Analysis: 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| COHR | PUT | TRADE | BULLISH | 10/18/24 | $7.1 | $6.9 | $6.9 | $80.00 | $207.0K | 459 | 300 |
| COHR | PUT | SWEEP | BULLISH | 09/27/24 | $0.8 | $0.2 | $0.5 | $67.00 | $100.2K | 2 | 2.0K |
| COHR | PUT | SWEEP | BULLISH | 02/21/25 | $24.1 | $23.9 | $23.9 | $95.00 | $95.6K | 2 | 41 |
| COHR | PUT | SWEEP | BULLISH | 10/04/24 | $2.25 | $2.1 | $2.1 | $72.00 | $73.5K | 300 | 400 |
| COHR | PUT | SWEEP | BEARISH | 10/18/24 | $4.4 | $4.1 | $4.4 | $75.00 | $66.0K | 2.2K | 150 |
About Coherent
Coherent Corp engaged in materials, networking, and lasers, is a vertically integrated manufacturing company that develops, manufactures, and markets engineered materials, optoelectronic components and devices, and lasers for use in the industrial, communications, electronics and instrumentation markets. The firm operates in three segments Networking, Materials, and Lasers Segment. It generates maximum revenue from Networking segment. The company geographically operates in North America. Europe, China, Japan and Rest of the world.
Having examined the options trading patterns of Coherent, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Coherent's Current Market Status
- With a trading volume of 2,377,195, the price of COHR is up by 6.76%, reaching $75.65.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 54 days from now.
What Analysts Are Saying About Coherent
In the last month, 5 experts released ratings on this stock with an average target price of $75.4.
- Consistent in their evaluation, an analyst from Needham keeps a Buy rating on Coherent with a target price of $84.
- Maintaining their stance, an analyst from B. Riley Securities continues to hold a Buy rating for Coherent, targeting a price of $86.
- An analyst from Morgan Stanley persists with their Equal-Weight rating on Coherent, maintaining a target price of $72.
- An analyst from Northland Capital Markets persists with their Market Perform rating on Coherent, maintaining a target price of $50.
- Consistent in their evaluation, an analyst from Stifel keeps a Buy rating on Coherent with a target price of $85.
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 Coherent with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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