Deep-pocketed investors have adopted a bearish approach towards Impinj PI, 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 PI usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for Impinj. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 20% leaning bullish and 70% bearish. Among these notable options, 7 are puts, totaling $212,297, and 3 are calls, amounting to $121,392.
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 $140.0 to $250.0 for Impinj over the last 3 months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Impinj stands at 89.2, with a total volume reaching 577.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Impinj, situated within the strike price corridor from $140.0 to $250.0, throughout the last 30 days.
Impinj 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PI | CALL | TRADE | BEARISH | 01/17/25 | $7.5 | $6.4 | $6.4 | $230.00 | $44.8K | 151 | 73 |
| PI | CALL | TRADE | NEUTRAL | 01/17/25 | $20.6 | $18.5 | $19.66 | $190.00 | $39.3K | 9 | 20 |
| PI | CALL | SWEEP | BEARISH | 04/17/25 | $64.5 | $61.5 | $62.15 | $140.00 | $37.2K | 9 | 6 |
| PI | PUT | TRADE | BEARISH | 11/15/24 | $11.6 | $10.4 | $11.6 | $200.00 | $35.9K | 235 | 66 |
| PI | PUT | SWEEP | BEARISH | 11/15/24 | $12.7 | $12.5 | $12.7 | $200.00 | $32.8K | 235 | 165 |
About Impinj
Impinj Inc operates a platform that enables wireless connectivity to everyday items by delivering each item's identity, location, and authenticity to business and consumer applications. Its platform includes endpoint integrated circuits (ICs) product, a miniature radios-on-a-chip, which attach to and identify their host items; and connectivity layer that comprises readers, gateways, and reader ICs to wirelessly identify, locate, authenticate, and engage endpoints via RAIN, as well as provide power to and communicate bidirectionally with endpoint ICs. Geographically, the company has a business presence in the Americas, Asia Pacific, Europe, Middle East and Africa, of which key revenue is derived from the operations in the Asia Pacific region.
After a thorough review of the options trading surrounding Impinj, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Impinj
- Currently trading with a volume of 1,708,011, the PI's price is down by -5.6%, now at $210.0.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 105 days.
Professional Analyst Ratings for Impinj
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $253.2.
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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. * In a cautious move, an analyst from Evercore ISI Group downgraded its rating to Outperform, setting a price target of $270. * An analyst from Lake Street persists with their Buy rating on Impinj, maintaining a target price of $251. * Maintaining their stance, an analyst from Susquehanna continues to hold a Positive rating for Impinj, targeting a price of $260. * Reflecting concerns, an analyst from Piper Sandler lowers its rating to Overweight with a new price target of $225. * An analyst from Cantor Fitzgerald has decided to maintain their Overweight rating on Impinj, which currently sits at a price target of $260.
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 Impinj with Benzinga Pro for real-time alerts.
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