Investors with a lot of money to spend have taken a bullish stance on Seagate Tech Hldgs STX.
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 STX, 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 12 uncommon options trades for Seagate Tech Hldgs.
This isn't normal.
The overall sentiment of these big-money traders is split between 58% bullish and 41%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $512,124, and 5 are calls, for a total amount of $142,340.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $85.0 to $118.0 for Seagate Tech Hldgs over the recent three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Seagate Tech Hldgs options trades today is 423.86 with a total volume of 4,799.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Seagate Tech Hldgs's big money trades within a strike price range of $85.0 to $118.0 over the last 30 days.
Seagate Tech Hldgs 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| STX | PUT | SWEEP | BEARISH | 10/25/24 | $3.2 | $3.0 | $3.2 | $108.00 | $176.0K | 942 | 971 |
| STX | PUT | SWEEP | BULLISH | 10/25/24 | $4.5 | $4.1 | $4.0 | $108.00 | $110.0K | 942 | 405 |
| STX | PUT | TRADE | BEARISH | 10/25/24 | $15.0 | $14.6 | $15.0 | $118.00 | $90.0K | 68 | 1 |
| STX | PUT | TRADE | BEARISH | 12/20/24 | $7.6 | $7.5 | $7.6 | $110.00 | $47.1K | 327 | 96 |
| STX | PUT | SWEEP | BULLISH | 11/15/24 | $1.7 | $1.65 | $1.65 | $100.00 | $32.8K | 1.0K | 575 |
About Seagate Tech Hldgs
Seagate is a leading supplier of hard disk drives for data storage to the enterprise and consumer markets. It forms a practical duopoly in the market with its chief rival, Western Digital; they are both vertically integrated.
Having examined the options trading patterns of Seagate Tech Hldgs, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of Seagate Tech Hldgs
- With a volume of 4,434,041, the price of STX is down -6.98% at $104.78.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 91 days.
Expert Opinions on Seagate Tech Hldgs
In the last month, 5 experts released ratings on this stock with an average target price of $139.8.
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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. * Maintaining their stance, an analyst from Rosenblatt continues to hold a Buy rating for Seagate Tech Hldgs, targeting a price of $140. * An analyst from Citigroup persists with their Buy rating on Seagate Tech Hldgs, maintaining a target price of $130. * An analyst from Evercore ISI Group has decided to maintain their Outperform rating on Seagate Tech Hldgs, which currently sits at a price target of $135. * Reflecting concerns, an analyst from Wedbush lowers its rating to Outperform with a new price target of $150. * Consistent in their evaluation, an analyst from Northland Capital Markets keeps a Outperform rating on Seagate Tech Hldgs with a target price of $144.
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 Seagate Tech Hldgs, 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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