High-rolling investors have positioned themselves bearish on EVgo EVGO, 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 EVGO often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for EVgo. This is not a typical pattern.
The sentiment among these major traders is split, with 37% bullish and 62% bearish. Among all the options we identified, there was one put, amounting to $37,620, and 7 calls, totaling $268,160.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $3.0 to $6.0 for EVgo over the last 3 months.
Volume & Open Interest Trends
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for EVgo'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 EVgo's whale trades within a strike price range from $3.0 to $6.0 in the last 30 days.
EVgo Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EVGO | CALL | TRADE | BULLISH | 10/18/24 | $1.15 | $1.05 | $1.14 | $4.50 | $57.0K | 4.0K | 1.6K |
| EVGO | CALL | SWEEP | BEARISH | 10/18/24 | $1.15 | $1.05 | $1.05 | $4.50 | $42.0K | 4.0K | 2.1K |
| EVGO | CALL | SWEEP | BEARISH | 11/15/24 | $2.95 | $2.85 | $2.85 | $3.00 | $40.1K | 1.6K | 452 |
| EVGO | CALL | SWEEP | BEARISH | 10/18/24 | $0.9 | $0.8 | $0.8 | $4.50 | $40.0K | 4.0K | 142 |
| EVGO | PUT | TRADE | BULLISH | 10/18/24 | $0.6 | $0.55 | $0.55 | $6.00 | $37.6K | 1 | 4.0K |
About EVgo
EVgo owns and operates a public direct current fast-charging network in the us. Its network of charging stations provides electric vehicle charging infrastructure to consumers and businesses. The network is capable of charging all EV models and meets all charging standards currently available in the us. EVgo partners with national and regional chains of grocery stores, automotive original equipment manufacturers, hotels, shopping centers, gas stations, parking lot operators, local governments and independent property owners in order to locate and deploy its EV charging infrastructure.
In light of the recent options history for EVgo, it's now appropriate to focus on the company itself. We aim to explore its current performance.
EVgo's Current Market Status
- Trading volume stands at 100,853,292, with EVGO's price up by 60.76%, positioned at $6.32.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 34 days.
Professional Analyst Ratings for EVgo
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $5.5.
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. * Showing optimism, an analyst from JP Morgan upgrades its rating to Overweight with a revised price target of $7. * In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $5. * An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $5. * In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $5.
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 EVgo options trades with real-time alerts from Benzinga Pro.
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