Investors with significant funds have taken a bullish position in Charles River CRL, a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in CRL usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 9 options transactions for Charles River. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 44% being bullish and 44% bearish. Of all the options we discovered, 8 are puts, valued at $362,386, and there was a single call, worth $39,225.
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 $180.0 and $190.0 for Charles River, spanning the last three months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Charles River'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 Charles River's whale activity within a strike price range from $180.0 to $190.0 in the last 30 days.
Charles River 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CRL | PUT | SWEEP | BEARISH | 11/15/24 | $9.3 | $9.2 | $9.2 | $180.00 | $102.1K | 323 | 162 |
| CRL | PUT | SWEEP | BEARISH | 11/15/24 | $9.9 | $9.8 | $9.8 | $180.00 | $48.0K | 323 | 279 |
| CRL | PUT | SWEEP | NEUTRAL | 11/15/24 | $9.5 | $9.5 | $9.5 | $180.00 | $42.7K | 323 | 209 |
| CRL | CALL | SWEEP | BEARISH | 11/15/24 | $7.7 | $7.4 | $7.4 | $190.00 | $39.2K | 189 | 644 |
| CRL | PUT | SWEEP | BEARISH | 11/15/24 | $12.4 | $12.0 | $12.4 | $185.00 | $37.2K | 40 | 344 |
About Charles River
Charles River Laboratories was founded in 1947 and is a leading provider of drug discovery and development services. The company's research model & services segment is the leading provider of animal models for laboratory testing, which breeds and delivers animal research models with specific genetic characteristics for preclinical studies around the world. The discovery & safety assessment segment includes services required to take a drug through the early development process, including discovery services. The manufacturing support segment includes microbial solutions, which provides in vitro (non-animal) testing products, biologics testing services, and avian vaccine services.
Having examined the options trading patterns of Charles River, 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 Charles River
- Currently trading with a volume of 735,960, the CRL's price is down by -0.34%, now at $185.99.
- RSI readings suggest the stock is currently may be oversold.
- Anticipated earnings release is in 13 days.
What Analysts Are Saying About Charles River
In the last month, 5 experts released ratings on this stock with an average target price of $179.6.
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 CLSA has revised its rating downward to Underperform, adjusting the price target to $167. * Reflecting concerns, an analyst from Evercore ISI Group lowers its rating to In-Line with a new price target of $190. * Reflecting concerns, an analyst from Citigroup lowers its rating to Sell with a new price target of $175. * Reflecting concerns, an analyst from Redburn Atlantic lowers its rating to Sell with a new price target of $151. * In a cautious move, an analyst from B of A Securities downgraded its rating to Neutral, setting a price target of $215.
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 Charles River 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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