Deep-pocketed investors have adopted a bearish approach towards Cava Group CAVA, 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 CAVA usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 16 extraordinary options activities for Cava Group. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 31% leaning bullish and 68% bearish. Among these notable options, 3 are puts, totaling $314,730, and 13 are calls, amounting to $827,750.
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 $65.0 to $140.0 for Cava Group over the last 3 months.
Volume & Open Interest Development
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 Cava Group'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 Cava Group's whale trades within a strike price range from $65.0 to $140.0 in the last 30 days.
Cava Group Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CAVA | PUT | SWEEP | BEARISH | 11/01/24 | $7.2 | $7.1 | $7.2 | $137.00 | $249.1K | 350 | 350 |
| CAVA | CALL | SWEEP | BULLISH | 11/15/24 | $11.8 | $11.6 | $11.8 | $130.00 | $206.5K | 826 | 191 |
| CAVA | CALL | SWEEP | BEARISH | 11/15/24 | $12.0 | $11.9 | $11.9 | $130.00 | $129.7K | 826 | 300 |
| CAVA | CALL | SWEEP | BEARISH | 04/17/25 | $29.1 | $28.5 | $28.5 | $120.00 | $56.5K | 118 | 20 |
| CAVA | CALL | SWEEP | BEARISH | 12/20/24 | $12.0 | $11.0 | $11.25 | $140.00 | $56.2K | 246 | 50 |
About Cava Group
Cava Group Inc owns and operates a chain of restaurants. It is the category-defining Mediterranean fast-casual restaurant brand, bringing together healthful food and bold, satisfying flavors at scale. The company's dips, spreads, and dressings are centrally produced and sold in grocery stores. The company's operations are conducted as two reportable segments: CAVA and Zoes Kitchen. The company generates the majority of its revenue from the CAVA segment.
Having examined the options trading patterns of Cava Group, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Cava Group
- Trading volume stands at 1,123,139, with CAVA's price up by 0.89%, positioned at $134.84.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 22 days.
Professional Analyst Ratings for Cava Group
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $131.66666666666666.
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 UBS has revised its rating downward to Neutral, adjusting the price target to $135. * Maintaining their stance, an analyst from TD Cowen continues to hold a Buy rating for Cava Group, targeting a price of $130. * Maintaining their stance, an analyst from TD Securities continues to hold a Buy rating for Cava Group, targeting a price of $130.
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 Cava Group options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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