Behind the Scenes of Chewy's Latest Options Trends

Financial giants have made a conspicuous bearish move on Chewy. Our analysis of options history for Chewy CHWY revealed 12 unusual trades.

Delving into the details, we found 25% of traders were bullish, while 50% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $385,600, and 6 were calls, valued at $532,776.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $17.5 to $35.0 for Chewy over the last 3 months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Chewy stands at 1727.2, with a total volume reaching 7,063.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Chewy, situated within the strike price corridor from $17.5 to $35.0, throughout the last 30 days.

Chewy 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

About Chewy

Chewy is the largest e-commerce pet care retailer in the US, generating $11.2 billion in 2023 sales across pet food, treats, hard goods, and pharmacy categories. The firm was founded in 2011, acquired by PetSmart in 2017, and tapped public markets as a stand-alone company in 2019 after spending a couple of years developing under the aegis of the pet superstore chain. The firm generates sales from pet food, treats, over-the-counter medications, medical prescription fulfillment, and hard goods, like crates, leashes, and bowls.

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

Current Position of Chewy

• With a trading volume of 11,037,218, the price of CHWY is down by -3.1%, reaching $32.58.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 0 days from now.

Expert Opinions on Chewy

In the last month, 5 experts released ratings on this stock with an average target price of $36.8.

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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. * Maintaining their stance, an analyst from Deutsche Bank continues to hold a Hold rating for Chewy, targeting a price of $28. * An analyst from Barclays persists with their Overweight rating on Chewy, maintaining a target price of $40. * An analyst from Morgan Stanley has decided to maintain their Overweight rating on Chewy, which currently sits at a price target of $36. * Maintaining their stance, an analyst from Baird continues to hold a Outperform rating for Chewy, targeting a price of $40. * Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for Chewy, targeting a price of $40.

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.

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