Someone with a lot of money to spend has taken a bearish stance on Charles Schwab SCHW.
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 SCHW, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 13 options trades for Charles Schwab.
This isn't normal.
The overall sentiment of these big-money traders is split between 38% bullish and 61%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $26,250, and 12, calls, for a total amount of $577,037..
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 $22.5 to $70.0 for Charles Schwab over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Charles Schwab options trades today is 2391.33 with a total volume of 2,041.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Charles Schwab's big money trades within a strike price range of $22.5 to $70.0 over the last 30 days.
Charles Schwab 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 |
|---|---|---|---|---|---|---|---|---|
| SCHW | CALL | TRADE | BULLISH | 12/19/25 | $65.00 | $116.9K | 401 | 81 |
| SCHW | CALL | TRADE | BULLISH | 12/20/24 | $70.00 | $62.1K | 289 | 100 |
| SCHW | CALL | TRADE | BEARISH | 09/15/23 | $67.50 | $49.0K | 5.5K | 1.0K |
| SCHW | CALL | TRADE | BULLISH | 09/15/23 | $60.00 | $44.1K | 7.6K | 73 |
| SCHW | CALL | TRADE | NEUTRAL | 01/19/24 | $22.50 | $43.2K | 305 | 10 |
Where Is Charles Schwab Standing Right Now?
- With a volume of 2,550,505, the price of SCHW is down -0.66% at $65.09.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 68 days.
What The Experts Say On Charles Schwab:
- Citigroup has decided to maintain their Buy rating on Charles Schwab, which currently sits at a price target of $75.
- Piper Sandler has decided to maintain their Overweight rating on Charles Schwab, which currently sits at a price target of $86.
- JMP Securities has decided to maintain their Outperform rating on Charles Schwab, which currently sits at a price target of $77.
- Barclays has decided to maintain their Equal-Weight rating on Charles Schwab, which currently sits at a price target of $62.
- Barclays has decided to maintain their Equal-Weight rating on Charles Schwab, which currently sits at a price target of $70.
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 Charles Schwab, 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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