A whale with a lot of money to spend has taken a noticeably bearish stance on Simon Property Group.
Looking at options history for Simon Property Group SPG we detected 11 strange trades.
If we consider the specifics of each trade, it is accurate to state that 45% of the investors opened trades with bullish expectations and 54% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $270,976 and 5, calls, for a total amount of $181,122.
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 $75.0 to $210.0 for Simon Property Group over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Simon Property Group options trades today is 658.18 with a total volume of 946.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Simon Property Group's big money trades within a strike price range of $75.0 to $210.0 over the last 30 days.
Simon Property Group 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 |
|---|---|---|---|---|---|---|---|---|
| SPG | PUT | TRADE | BULLISH | 06/17/22 | $120.00 | $58.5K | 1.5K | 354 |
| SPG | PUT | SWEEP | BEARISH | 01/20/23 | $110.00 | $55.2K | 1.1K | 68 |
| SPG | CALL | TRADE | NEUTRAL | 01/19/24 | $75.00 | $52.5K | 11 | 0 |
| SPG | PUT | TRADE | BULLISH | 01/20/23 | $105.00 | $45.6K | 573 | 62 |
| SPG | PUT | SWEEP | BULLISH | 01/19/24 | $85.00 | $45.4K | 507 | 0 |
Where Is Simon Property Group Standing Right Now?
- With a volume of 1,397,369, the price of SPG is down -2.15% at $125.11.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 32 days.
What The Experts Say On Simon Property Group:
- Wells Fargo has decided to maintain their Equal-Weight rating on Simon Property Group, which currently sits at a price target of $140.
- Deutsche Bank has decided to maintain their Buy rating on Simon Property Group, which currently sits at a price target of $173.
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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