A whale with a lot of money to spend has taken a noticeably bullish stance on Beyond Meat.
Looking at options history for Beyond Meat BYND we detected 12 strange trades.
If we consider the specifics of each trade, it is accurate to state that 58% of the investors opened trades with bullish expectations and 41% with bearish.
From the overall spotted trades, 9 are puts, for a total amount of $608,130 and 3, calls, for a total amount of $140,884.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $25.0 to $80.0 for Beyond Meat over the last 3 months.
Volume & Open Interest Development
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 Beyond Meat'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 Beyond Meat's whale activity within a strike price range from $25.0 to $80.0 in the last 30 days.
Beyond Meat Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| BYND | PUT | TRADE | BULLISH | 01/19/24 | $60.00 | $258.5K | 1.6K | 110 |
| BYND | PUT | SWEEP | BULLISH | 09/16/22 | $60.00 | $87.9K | 1.4K | 53 |
| BYND | CALL | SWEEP | NEUTRAL | 04/08/22 | $51.00 | $78.5K | 234 | 641 |
| BYND | PUT | TRADE | BULLISH | 01/19/24 | $25.00 | $55.0K | 2.3K | 102 |
| BYND | PUT | SWEEP | BEARISH | 05/20/22 | $80.00 | $48.0K | 6.5K | 18 |
Where Is Beyond Meat Standing Right Now?
- With a volume of 1,237,599, the price of BYND is up 4.5% at $51.52.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 31 days.
What The Experts Say On Beyond Meat:
- Goldman Sachs has decided to maintain their Sell rating on Beyond Meat, which currently sits at a price target of $40.
- Piper Sandler downgraded its action to Underweight with a price target of $29
- UBS downgraded its action to Neutral with a price target of $48
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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