Investors with a lot of money to spend have taken a bearish stance on Icon ICLR.
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 ICLR, 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 16 uncommon options trades for Icon.
This isn't normal.
The overall sentiment of these big-money traders is split between 25% bullish and 56%, bearish.
Out of all of the special options we uncovered, 14 are puts, for a total amount of $801,840, and 2 are calls, for a total amount of $58,004.
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 $230.0 and $280.0 for Icon, spanning the last three months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Icon stands at 129.33, with a total volume reaching 1,494.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Icon, situated within the strike price corridor from $230.0 to $280.0, throughout the last 30 days.
Icon 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ICLR | PUT | SWEEP | BEARISH | 11/15/24 | $45.0 | $43.0 | $45.0 | $280.00 | $166.5K | 387 | 84 |
| ICLR | PUT | SWEEP | BEARISH | 11/15/24 | $45.0 | $43.8 | $45.0 | $280.00 | $72.0K | 387 | 34 |
| ICLR | PUT | TRADE | NEUTRAL | 11/15/24 | $48.0 | $45.6 | $46.6 | $280.00 | $55.9K | 387 | 187 |
| ICLR | PUT | TRADE | BULLISH | 11/15/24 | $47.4 | $45.4 | $46.1 | $280.00 | $55.3K | 387 | 177 |
| ICLR | PUT | TRADE | BEARISH | 11/15/24 | $46.0 | $44.8 | $46.0 | $280.00 | $55.2K | 387 | 126 |
About Icon
Icon is a global late-stage contract research organization that provides drug development and clinical trial services to pharmaceutical, biotechnology, and medical-device firms. While the vast majority of its revenue comes from clinical research, Icon also offers ancillary services such as laboratory and imaging capabilities. The company is headquartered in Ireland.
Following our analysis of the options activities associated with Icon, we pivot to a closer look at the company's own performance.
Present Market Standing of Icon
- With a volume of 2,053,491, the price of ICLR is down -16.9% at $233.31.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 118 days.
What Analysts Are Saying About Icon
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $338.8.
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. * Reflecting concerns, an analyst from Redburn Atlantic lowers its rating to Neutral with a new price target of $311. * Reflecting concerns, an analyst from Baird lowers its rating to Neutral with a new price target of $340. * Maintaining their stance, an analyst from Truist Securities continues to hold a Buy rating for Icon, targeting a price of $363. * Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on Icon with a target price of $330. * An analyst from Evercore ISI Group persists with their Outperform rating on Icon, maintaining a target price of $350.
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 Icon, 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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