Someone with a lot of money to spend has taken a bullish stance on Generac Hldgs GNRC.
And retail traders should know.
We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with GNRC, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 10 options trades for Generac Hldgs.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.
Out of all of the options we uncovered, 9 are puts, for a total amount of $421,660, and there was 1 call, for a total amount of $74,200.
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 $240.0 to $310.0 for Generac Hldgs over the last 3 months.
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 Generac Hldgs'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 Generac Hldgs's whale trades within a strike price range from $240.0 to $310.0 in the last 30 days.
Generac Hldgs 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 |
|---|---|---|---|---|---|---|---|---|
| GNRC | CALL | TRADE | BULLISH | 08/19/22 | $280.00 | $74.2K | 16 | 35 |
| GNRC | PUT | TRADE | NEUTRAL | 01/20/23 | $310.00 | $72.8K | 19 | 33 |
| GNRC | PUT | TRADE | BULLISH | 01/20/23 | $310.00 | $58.0K | 19 | 15 |
| GNRC | PUT | TRADE | BULLISH | 01/20/23 | $310.00 | $57.6K | 19 | 23 |
| GNRC | PUT | TRADE | BULLISH | 01/20/23 | $310.00 | $50.2K | 19 | 7 |
Where Is Generac Hldgs Standing Right Now?
- With a volume of 457,883, the price of GNRC is down -4.72% at $255.43.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 14 days.
What The Experts Say On Generac Hldgs:
- Goldman Sachs upgraded its action to Buy with a price target of $410
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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