Investors with a lot of money to spend have taken a bullish stance on Magnite (NASDAQ:MGNI).

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 MGNI, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 11 options trades for Magnite.

This isn't normal.

The overall sentiment of these big-money traders is split between 45% bullish and 27%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $105,302, and 10, calls, for a total amount of $332,147.

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 $15.0 to $22.5 for Magnite over the last 3 months.

Insights into Volume & Open Interest

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Magnite'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 Magnite's whale trades within a strike price range from $15.0 to $22.5 in the last 30 days.

Magnite Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

About Magnite

In light of the recent options history for Magnite, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Current Position of Magnite

• Currently trading with a volume of 1,585,237, the MGNI's price is down by -2.13%, now at $20.18.
• RSI readings suggest the stock is currently may be overbought.
• Anticipated earnings release is in 15 days.

Expert Opinions on Magnite

A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $17.5.

Turn $1000 into $1270 in just 20 days?

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 Magnite with Benzinga Pro for real-time alerts.