Investors with a lot of money to spend have taken a bearish stance on Powell Industries POWL.
And retail traders should know.
We noticed this today when the positions 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 POWL, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 10 options trades for Powell Industries.
This isn't normal.
The overall sentiment of these big-money traders is split between 30% bullish and 40%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $29,668, and 9, calls, for a total amount of $318,927.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $210.0 and $340.0 for Powell Industries, spanning the last three months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Powell Industries options trades today is 44.83 with a total volume of 359.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Powell Industries's big money trades within a strike price range of $210.0 to $340.0 over the last 30 days.
Powell Industries Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| POWL | CALL | TRADE | BEARISH | 10/18/24 | $36.9 | $33.8 | $33.81 | $210.00 | $50.7K | 64 | 17 |
| POWL | CALL | TRADE | NEUTRAL | 12/20/24 | $8.1 | $6.9 | $7.52 | $340.00 | $45.8K | 4 | 100 |
| POWL | CALL | SWEEP | BEARISH | 10/18/24 | $22.7 | $19.0 | $19.45 | $230.00 | $39.3K | 114 | 86 |
| POWL | CALL | SWEEP | NEUTRAL | 10/18/24 | $19.3 | $18.0 | $18.01 | $230.00 | $36.0K | 114 | 43 |
| POWL | CALL | TRADE | BULLISH | 10/18/24 | $17.3 | $15.9 | $17.3 | $230.00 | $34.6K | 114 | 23 |
About Powell Industries
Powell Industries Inc is a United States-based company that develops, designs, manufactures, and services custom-engineered equipment and systems for electrical energy distribution, control, and monitoring. The company's principal products comprise integrated power control room substations, custom-engineered modules, electrical houses, traditional and arc-resistant distribution switchgear and control gear, and so on. These products are applied in oil and gas refining, offshore oil and gas production, petrochemical, pipeline, terminal, mining and metals, light-rail traction power, electric utility, pulp and paper, and other heavy industrial markets. The company generates the majority of its sales from the United States.
Following our analysis of the options activities associated with Powell Industries, we pivot to a closer look at the company's own performance.
Current Position of Powell Industries
- With a trading volume of 269,811, the price of POWL is up by 4.79%, reaching $243.34.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 60 days from now.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access.
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 Powell Industries with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
