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.
So how do we know what this whale just did?
Today, Benzinga's options scanner spotted 37 uncommon options trades for Charles Schwab.
This isn't normal.
The overall sentiment of these big-money traders is split between 32% bullish and 67%, bearish.
Out of all of the special options we uncovered, 22 are puts, for a total amount of $1,619,734, and 15 are calls, for a total amount of $960,015.
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 $27.5 to $77.5 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 3161.5 with a total volume of 27,630.00.
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 $27.5 to $77.5 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 | PUT | TRADE | NEUTRAL | 03/15/24 | $47.50 | $305.0K | 2.9K | 1.0K |
| SCHW | CALL | SWEEP | BULLISH | 01/19/24 | $57.50 | $142.6K | 3.1K | 1.2K |
| SCHW | PUT | SWEEP | BEARISH | 01/19/24 | $47.50 | $135.1K | 5.1K | 1.3K |
| SCHW | PUT | TRADE | BEARISH | 01/17/25 | $75.00 | $124.8K | 2.5K | 54 |
| SCHW | CALL | TRADE | NEUTRAL | 10/20/23 | $56.00 | $122.0K | 1.3K | 2.0K |
Where Is Charles Schwab Standing Right Now?
- With a volume of 5,941,244, the price of SCHW is up 0.21% at $51.86.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 6 days.
What The Experts Say On Charles Schwab:
- Piper Sandler has decided to maintain their Overweight rating on Charles Schwab, which currently sits at a price target of $75.
- Barclays has decided to maintain their Equal-Weight rating on Charles Schwab, which currently sits at a price target of $64.
- JMP Securities downgraded its action to Market Outperform with a price target of $77
- Raymond James has decided to maintain their Outperform rating on Charles Schwab, which currently sits at a price target of $72.
- Barclays has decided to maintain their Equal-Weight rating on Charles Schwab, which currently sits at a price target of $55.
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.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
