Deep-pocketed investors have adopted a bearish approach towards Dick's Sporting Goods DKS, 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 DKS usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 15 extraordinary options activities for Dick's Sporting Goods. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 6% leaning bullish and 86% bearish. Among these notable options, 10 are puts, totaling $1,116,076, and 5 are calls, amounting to $200,459.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $105.0 to $230.0 for Dick's Sporting Goods during the past quarter.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Dick's Sporting Goods stands at 233.5, with a total volume reaching 20,356.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Dick's Sporting Goods, situated within the strike price corridor from $105.0 to $230.0, throughout the last 30 days.
Dick's Sporting Goods 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DKS | PUT | SWEEP | BEARISH | 01/10/25 | $3.2 | $3.0 | $3.2 | $210.00 | $403.6K | 11 | 2.2K |
| DKS | PUT | SWEEP | BEARISH | 01/10/25 | $3.7 | $3.4 | $3.7 | $210.00 | $315.6K | 11 | 4.5K |
| DKS | PUT | SWEEP | BEARISH | 01/10/25 | $3.2 | $3.0 | $3.2 | $210.00 | $68.4K | 11 | 2.4K |
| DKS | PUT | SWEEP | BEARISH | 01/10/25 | $3.2 | $3.1 | $3.2 | $210.00 | $67.2K | 11 | 2.8K |
| DKS | PUT | SWEEP | BEARISH | 01/10/25 | $3.2 | $3.0 | $3.2 | $210.00 | $65.2K | 11 | 957 |
About Dick's Sporting Goods
Dick's Sporting Goods retails athletic apparel, footwear, and equipment for sports. Dick's operates digital platforms, about 725 stores under its namesake brand (including outlet stores and House of Sport), and about 130 specialty stores under the Golf Galaxy and Public Lands nameplates. Dick's carries private-label merchandise and national brands such as Nike, The North Face, Under Armour, Callaway Golf, and TaylorMade. Based in the Pittsburgh area, Dick's was founded in 1948 by the father of current executive chairman and controlling shareholder Edward Stack.
After a thorough review of the options trading surrounding Dick's Sporting Goods, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Dick's Sporting Goods
- With a volume of 516,204, the price of DKS is up 1.49% at $221.0.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 90 days.
What Analysts Are Saying About Dick's Sporting Goods
4 market experts have recently issued ratings for this stock, with a consensus target price of $250.75.
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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. * Consistent in their evaluation, an analyst from Telsey Advisory Group keeps a Outperform rating on Dick's Sporting Goods with a target price of $260. * An analyst from Truist Securities has decided to maintain their Buy rating on Dick's Sporting Goods, which currently sits at a price target of $258. * An analyst from Loop Capital has decided to maintain their Hold rating on Dick's Sporting Goods, which currently sits at a price target of $225. * Showing optimism, an analyst from UBS upgrades its rating to Buy with a revised 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 Dick's Sporting Goods with Benzinga Pro for real-time alerts.
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