A whale with a lot of money to spend has taken a noticeably bearish stance on Cisco Systems.
Looking at options history for Cisco Systems CSCO we detected 18 strange trades.
If we consider the specifics of each trade, it is accurate to state that 44% of the investors opened trades with bullish expectations and 55% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $401,040 and 12, calls, for a total amount of $632,671.
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 $47.0 to $55.0 for Cisco Systems 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 Cisco Systems'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 Cisco Systems's whale trades within a strike price range from $47.0 to $55.0 in the last 30 days.
Cisco Systems 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 |
|---|---|---|---|---|---|---|---|---|
| CSCO | CALL | SWEEP | BULLISH | 10/20/23 | $55.00 | $109.4K | 7.2K | 905 |
| CSCO | PUT | TRADE | NEUTRAL | 09/15/23 | $55.00 | $106.1K | 296 | 428 |
| CSCO | PUT | SWEEP | BEARISH | 06/21/24 | $55.00 | $104.8K | 3.2K | 464 |
| CSCO | CALL | SWEEP | BEARISH | 09/15/23 | $55.00 | $86.2K | 19.9K | 1.3K |
| CSCO | CALL | SWEEP | BULLISH | 07/28/23 | $51.00 | $85.3K | 3.6K | 405 |
Where Is Cisco Systems Standing Right Now?
- With a volume of 49,671,585, the price of CSCO is up 0.5% at $52.63.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 26 days.
What The Experts Say On Cisco Systems:
- JP Morgan upgraded its action to Overweight with a price target of $62
- B of A Securities downgraded its action to Neutral with a price target of $56
- Citigroup downgraded its action to Neutral with a price target of $54
- Exane BNP Paribas downgraded its action to Underperform with a price target of $45
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 Cisco Systems, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
