Behind the Scenes of SoundHound AI's Latest Options Trends

Investors with a lot of money to spend have taken a bullish stance on SoundHound AI SOUN.

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

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

This isn't normal.

The overall sentiment of these big-money traders is split between 45% bullish and 36%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $33,534, and 10, calls, for a total amount of $467,113.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $7.0 to $10.0 for SoundHound AI during the past quarter.

Analyzing Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in SoundHound AI's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to SoundHound AI's substantial trades, within a strike price spectrum from $7.0 to $10.0 over the preceding 30 days.

SoundHound AI Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

About SoundHound AI

SoundHound AI Inc is an innovator of conversational intelligence, offering an independent Voice AI platform that enables businesses across industries to deliver high-quality conversational experiences to customers. The company's voice AI delivers speed and accuracy in numerous languages to product creators and service providers across retail, financial services, healthcare, automotive, smart devices, and restaurants via groundbreaking AI-driven products like Smart Answering, Smart Ordering, Dynamic Drive-Thru, and Amelia AI Agents.

After a thorough review of the options trading surrounding SoundHound AI, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Present Market Standing of SoundHound AI

• With a trading volume of 16,083,137, the price of SOUN is down by -0.51%, reaching $9.8.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 49 days from now.

What The Experts Say On SoundHound AI

2 market experts have recently issued ratings for this stock, with a consensus target price of $19.5.

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. * Reflecting concerns, an analyst from HC Wainwright & Co. lowers its rating to Buy with a new price target of $26. * An analyst from DA Davidson has decided to maintain their Buy rating on SoundHound AI, which currently sits at a price target of $13.

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 SoundHound AI with Benzinga Pro for real-time alerts.