Spotlight on Brinker International: Analyzing the Surge in Options Activity

Deep-pocketed investors have adopted a bullish approach towards Brinker International EAT, 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 EAT usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 22 extraordinary options activities for Brinker International. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 45% leaning bullish and 45% bearish. Among these notable options, 4 are puts, totaling $484,699, and 18 are calls, amounting to $1,532,043.

Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $140.0 to $155.0 for Brinker International during the past quarter.

Volume & Open Interest Development

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 Brinker 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 Brinker International's whale trades within a strike price range from $140.0 to $155.0 in the last 30 days.

Brinker International 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

About Brinker International

Brinker International Inc operates casual dining restaurants under the brand's Chili Grill and Bar (Chili's) and Maggiano's Little Italy (Maggiano's). Chili's falls in the Bar and Grill category of casual dining. Its menu features Fresh Mex and Fresh Tex favorites including signature items such as slow-smoked baby back ribs, craft burgers, fajitas, and bottomless chips and salsa paired with tableside guacamole. Maggiano's is an Italian restaurant brand with a full lunch and dinner menu offering chef-prepared, such as appetizers, chicken, seafood, veal and prime steaks, and desserts. The company generates maximum revenue from Chili's segment.

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

Present Market Standing of Brinker International

• With a volume of 382,005, the price of EAT is down -1.08% at $151.79.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 8 days.

Expert Opinions on Brinker International

1 market experts have recently issued ratings for this stock, with a consensus target price of $170.0.

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 Citigroup has decided to maintain their Neutral rating on Brinker International, which currently sits at a price target of $170.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Brinker International options trades with real-time alerts from Benzinga Pro.