Deep-pocketed investors have adopted a bearish approach towards Global Payments GPN, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in GPN usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 23 extraordinary options activities for Global Payments. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 26% leaning bullish and 69% bearish. Among these notable options, 16 are puts, totaling $781,005, and 7 are calls, amounting to $316,366.
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 $100.0 to $125.0 for Global Payments over the last 3 months.
Volume & Open Interest Trends
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Global Payments's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Global Payments's significant trades, within a strike price range of $100.0 to $125.0, over the past month.
Global Payments Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GPN | PUT | SWEEP | BULLISH | 12/20/24 | $4.6 | $4.4 | $4.5 | $100.00 | $136.8K | 92 | 885 |
| GPN | CALL | SWEEP | NEUTRAL | 12/20/24 | $5.8 | $5.6 | $5.72 | $105.00 | $111.4K | 79 | 1.0K |
| GPN | PUT | TRADE | BEARISH | 12/20/24 | $4.6 | $4.5 | $4.6 | $100.00 | $68.5K | 92 | 581 |
| GPN | PUT | SWEEP | BEARISH | 10/18/24 | $5.8 | $5.7 | $5.8 | $110.00 | $64.3K | 2.2K | 1.4K |
| GPN | PUT | SWEEP | BEARISH | 10/18/24 | $5.5 | $5.5 | $5.5 | $110.00 | $63.2K | 2.2K | 1.0K |
About Global Payments
Global Payments is a leading provider of payment processing and software solutions and focuses on serving small and midsize merchants. The company operates in 30 countries and generates about one fourth of its revenue from outside North America, primarily in Europe and Asia. In 2019, Global Payments merged with Total System Services in an all-stock deal that gave Total System Services shareholders 48% of the combined company's shares. The merger added issuer processing operations.
After a thorough review of the options trading surrounding Global Payments, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Global Payments
- Trading volume stands at 7,512,380, with GPN's price down by -6.02%, positioned at $104.3.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 35 days.
Expert Opinions on Global Payments
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $138.5.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from Susquehanna persists with their Positive rating on Global Payments, maintaining a target price of $147. * In a cautious move, an analyst from Stephens & Co. downgraded its rating to Overweight, setting a price target of $130.
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 Global Payments, 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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