Someone with a lot of money to spend has taken a bearish stance on Beyond Meat BYND.
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 BYND, it often means somebody knows something is about to happen.
So how do we know what this whale just did?
Today, Benzinga's options scanner spotted 11 uncommon options trades for Beyond Meat.
This isn't normal.
The overall sentiment of these big-money traders is split between 18% bullish and 81%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $957,103, and 4 are calls, for a total amount of $271,546.
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 $9.0 to $22.5 for Beyond Meat over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Beyond Meat options trades today is 2027.67 with a total volume of 6,401.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Beyond Meat's big money trades within a strike price range of $9.0 to $22.5 over 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 | SWEEP | BEARISH | 01/19/24 | $22.50 | $292.0K | 2.5K | 200 |
| BYND | PUT | SWEEP | BULLISH | 01/19/24 | $22.50 | $292.0K | 2.5K | 200 |
| BYND | PUT | SWEEP | NEUTRAL | 08/18/23 | $20.00 | $155.2K | 1.6K | 150 |
| BYND | CALL | TRADE | BEARISH | 01/19/24 | $15.00 | $142.5K | 5.8K | 1.8K |
| BYND | PUT | SWEEP | BEARISH | 08/18/23 | $20.00 | $105.0K | 1.6K | 252 |
Where Is Beyond Meat Standing Right Now?
- With a volume of 648,307, the price of BYND is up 2.79% at $11.06.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 56 days.
What The Experts Say On Beyond Meat:
- Barclays has decided to maintain their Underweight rating on Beyond Meat, which currently sits at a price target of $9.
- Mizuho has decided to maintain their Neutral rating on Beyond Meat, which currently sits at a price target of $12.
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 Beyond Meat, 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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