High-rolling investors have positioned themselves bearish on On Holding ONON, 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 ONON often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for On Holding. This is not a typical pattern.
The sentiment among these major traders is split, with 12% bullish and 87% bearish. Among all the options we identified, there was one put, amounting to $36,660, and 7 calls, totaling $1,165,719.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $40.0 and $60.0 for On Holding, spanning the last three months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for On Holding options trades today is 6728.75 with a total volume of 9,254.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for On Holding's big money trades within a strike price range of $40.0 to $60.0 over the last 30 days.
On Holding 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ONON | CALL | TRADE | BEARISH | 01/17/25 | $1.2 | $1.14 | $1.15 | $60.00 | $920.0K | 5.1K | 8.0K |
| ONON | CALL | SWEEP | BEARISH | 01/17/25 | $6.45 | $6.3 | $6.3 | $45.00 | $75.6K | 7.6K | 120 |
| ONON | CALL | SWEEP | BEARISH | 01/17/25 | $3.75 | $3.65 | $3.68 | $50.00 | $42.4K | 33.4K | 209 |
| ONON | CALL | SWEEP | BEARISH | 11/15/24 | $2.08 | $2.03 | $2.03 | $50.00 | $39.7K | 2.6K | 237 |
| ONON | PUT | SWEEP | BEARISH | 10/25/24 | $1.0 | $0.94 | $0.94 | $47.00 | $36.6K | 803 | 500 |
About On Holding
On Holding AG is a premium performance sports brand rooted in technology, design, and impact. Its shoes, apparel, and accessories products are designed predominantly for athletic use, casual, or leisure purposes. It does not manufacture the products or the raw materials and relies instead on third-party suppliers and contract manufacturers. Geographically, it derives a majority of its revenue from the Americas and rest from Europe, Middle East and Africa, and Asia-Pacific region.
In light of the recent options history for On Holding, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of On Holding
- Trading volume stands at 2,663,097, with ONON's price down by -2.84%, positioned at $47.28.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 20 days.
What The Experts Say On On Holding
4 market experts have recently issued ratings for this stock, with a consensus target price of $58.0.
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. * Consistent in their evaluation, an analyst from Keybanc keeps a Overweight rating on On Holding with a target price of $60. * Consistent in their evaluation, an analyst from TD Cowen keeps a Buy rating on On Holding with a target price of $58. * An analyst from Piper Sandler has decided to maintain their Overweight rating on On Holding, which currently sits at a price target of $56. * An analyst from Truist Securities persists with their Buy rating on On Holding, maintaining a target price of $58.
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 On Holding, 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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