Smart Money Is Betting Big In HSY Options

High-rolling investors have positioned themselves bearish on Hershey HSY, 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 HSY often signals that someone has privileged information.

Today, Benzinga's options scanner spotted 12 options trades for Hershey. This is not a typical pattern.

The sentiment among these major traders is split, with 16% bullish and 75% bearish. Among all the options we identified, there was one put, amounting to $28,490, and 11 calls, totaling $397,626.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $145.0 to $195.0 for Hershey over the last 3 months.

Analyzing Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Hershey's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Hershey's substantial trades, within a strike price spectrum from $145.0 to $195.0 over the preceding 30 days.

Hershey Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

About Hershey

Hershey is a leading confectionery manufacturer in the us (around a $25 billion market), controlling around 36% of the domestic chocolate space (per Euromonitor). Beyond its namesake label, the firm's mix has expanded over the last 85 years and now consists of 100 brands, including Reese's, Kit Kat, Kisses, and Ice Breakers. Hershey's products are sold in about 80 countries, albeit with just a high-single-digit percentage of sales coming from markets outside the us, including Brazil, India, and Mexico. The firm has sought inorganic opportunities to extend its reach beyond its core confection business, adding Amplify Snack Brands and its Skinny Pop ready-to-eat popcorn to its mix, Pirate Brands, and Dot's Pretzels over the past few years.

Following our analysis of the options activities associated with Hershey, we pivot to a closer look at the company's own performance.

Current Position of Hershey

• Currently trading with a volume of 486,624, the HSY's price is down by -0.05%, now at $182.75.
• RSI readings suggest the stock is currently may be approaching oversold.
• Anticipated earnings release is in 9 days.

What Analysts Are Saying About Hershey

5 market experts have recently issued ratings for this stock, with a consensus target price of $185.0.

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 JP Morgan keeps a Neutral rating on Hershey with a target price of $180. * An analyst from B of A Securities persists with their Neutral rating on Hershey, maintaining a target price of $195. * An analyst from Bernstein has revised its rating downward to Market Perform, adjusting the price target to $205. * An analyst from Stifel has decided to maintain their Hold rating on Hershey, which currently sits at a price target of $180. * In a cautious move, an analyst from Redburn Atlantic downgraded its rating to Sell, setting a price target of $165.

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 Hershey with Benzinga Pro for real-time alerts.