Unpacking the Latest Options Trading Trends in Papa John's International

Investors with a lot of money to spend have taken a bearish stance on Papa John's International PZZA.

And retail traders should know.

We noticed this today when the trades 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 PZZA, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 11 uncommon options trades for Papa John's International.

This isn't normal.

The overall sentiment of these big-money traders is split between 36% bullish and 63%, bearish.

Out of all of the special options we uncovered, 8 are puts, for a total amount of $394,553, and 3 are calls, for a total amount of $814,287.

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 $42.5 to $60.0 for Papa John's International over the last 3 months.

Insights into Volume & Open Interest

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Papa John's International'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 Papa John's International's whale activity within a strike price range from $42.5 to $60.0 in the last 30 days.

Papa John's International 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

About Papa John's International

Papa John's is one of the largest players in the global QSR, or quick-service restaurant, pizza market, boasting more than 5,900 restaurants across nearly 50 countries at the end of 2023. The firm operates a predominantly franchised system, owning 11% of its restaurants and generating revenue from franchise royalties, sales of pizza and related products at its company-owned stores, and sales from its commissary supply chain. The firm is the fourth-largest limited-service pizza chain both in the US and globally, with a sizable presence in the UK, China, South Korea, and Chile.

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

Current Position of Papa John's International

• With a volume of 862,521, the price of PZZA is up 2.15% at $44.24.
• RSI indicators hint that the underlying stock may be overbought.
• Next earnings are expected to be released in 14 days.

What The Experts Say On Papa John's International

3 market experts have recently issued ratings for this stock, with a consensus target price of $54.0.

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 Loop Capital persists with their Buy rating on Papa John's International, maintaining a target price of $60. * Reflecting concerns, an analyst from Wedbush lowers its rating to Outperform with a new price target of $60. * An analyst from Jefferies persists with their Hold rating on Papa John's International, maintaining a target price of $42.

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 Papa John's International with Benzinga Pro for real-time alerts.