Investors with a lot of money to spend have taken a bullish stance on GitLab GTLB.
And retail traders should know.
We noticed this today when the positions 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 GTLB, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 8 options trades for GitLab.
This isn't normal.
The overall sentiment of these big-money traders is split between 62% bullish and 25%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $28,500, and 7, calls, for a total amount of $660,508.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $50.0 to $80.0 for GitLab over the last 3 months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of GitLab stands at 548.25, with a total volume reaching 2,406.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in GitLab, situated within the strike price corridor from $50.0 to $80.0, throughout the last 30 days.
GitLab Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GTLB | CALL | SWEEP | BULLISH | 07/18/25 | $5.6 | $5.5 | $5.6 | $80.00 | $233.6K | 20 | 1.0K |
| GTLB | CALL | SWEEP | BULLISH | 07/18/25 | $5.4 | $3.0 | $5.4 | $80.00 | $141.4K | 20 | 437 |
| GTLB | CALL | SWEEP | BULLISH | 07/18/25 | $5.4 | $3.0 | $5.4 | $80.00 | $94.5K | 20 | 175 |
| GTLB | CALL | SWEEP | BULLISH | 07/18/25 | $5.4 | $3.0 | $5.4 | $80.00 | $78.8K | 20 | 583 |
| GTLB | CALL | TRADE | NEUTRAL | 12/06/24 | $7.9 | $7.5 | $7.7 | $58.00 | $38.5K | 56 | 100 |
About GitLab
GitLab Inc operates on an all-remote model. GitLab, a complete DevSecOps platform delivered as a single application. It operates in two competitive landscapes: DevOps point solutions and DevOps platforms. In terms of point solutions that are stitched together, GitLab's offering is substantially different in that it is one platform, one codebase, one interface, and a unified data model that spans the entire DevSecOps lifecycle. DevOps platforms, the principal competitor is Microsoft Corporation following their acquisition of GitHub. GitLab is offered on both self-managed and software-as-a-service (SaaS) models. It is located in the United States, Europe, and Asia Pacific. It focused on accelerating innovation and broadening the distribution of its platform to companies across the world.
Having examined the options trading patterns of GitLab, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of GitLab
- With a trading volume of 615,715, the price of GTLB is down by -0.79%, reaching $63.24.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 3 days from now.
Professional Analyst Ratings for GitLab
2 market experts have recently issued ratings for this stock, with a consensus target price of $72.0.
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. * An analyst from TD Cowen has decided to maintain their Buy rating on GitLab, which currently sits at a price target of $70. * Consistent in their evaluation, an analyst from Keybanc keeps a Overweight rating on GitLab with a target price of $74.
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 GitLab 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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