A whale with a lot of money to spend has taken a noticeably bearish stance on Splunk.
Looking at options history for Splunk SPLK we detected 11 strange trades.
If we consider the specifics of each trade, it is accurate to state that 27% of the investors opened trades with bullish expectations and 72% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $662,275 and 5, calls, for a total amount of $164,502.
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 $55.0 to $130.0 for Splunk over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Splunk options trades today is 960.3 with a total volume of 2,421.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Splunk's big money trades within a strike price range of $55.0 to $130.0 over the last 30 days.
Splunk 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 |
|---|---|---|---|---|---|---|---|---|
| SPLK | PUT | TRADE | BEARISH | 01/20/23 | $70.00 | $348.0K | 2.3K | 600 |
| SPLK | PUT | TRADE | BEARISH | 01/20/23 | $70.00 | $116.0K | 2.3K | 801 |
| SPLK | PUT | SWEEP | BULLISH | 01/20/23 | $65.00 | $71.4K | 733 | 227 |
| SPLK | PUT | TRADE | BEARISH | 01/20/23 | $130.00 | $57.4K | 1.7K | 10 |
| SPLK | PUT | TRADE | BULLISH | 06/16/23 | $115.00 | $43.2K | 28 | 11 |
Where Is Splunk Standing Right Now?
- With a volume of 2,149,274, the price of SPLK is down -2.44% at $74.04.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 0 days.
What The Experts Say On Splunk:
- Morgan Stanley has decided to maintain their Equal-Weight rating on Splunk, which currently sits at a price target of $123.
- B of A Securities has decided to maintain their Buy rating on Splunk, which currently sits at a price target of $110.
- Mizuho has decided to maintain their Neutral rating on Splunk, which currently sits at a price target of $100.
- RBC Capital has decided to maintain their Outperform rating on Splunk, which currently sits at a price target of $105.
- Wolfe Research downgraded its action to Outperform with a price target of $90
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.
If you want to stay updated on the latest options trades for Splunk, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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