A whale with a lot of money to spend has taken a noticeably bearish stance on Constellation Brands.
Looking at options history for Constellation Brands STZ 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, 7 are puts, for a total amount of $784,960 and 4, calls, for a total amount of $292,960.
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 $195.0 to $235.0 for Constellation Brands over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Constellation Brands options trades today is 290.0 with a total volume of 1,904.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Constellation Brands's big money trades within a strike price range of $195.0 to $235.0 over the last 30 days.
Constellation Brands 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 |
|---|---|---|---|---|---|---|---|---|
| STZ | PUT | TRADE | BULLISH | 11/17/23 | $235.00 | $522.0K | 373 | 775 |
| STZ | CALL | TRADE | BULLISH | 04/19/24 | $235.00 | $155.2K | 2 | 117 |
| STZ | PUT | SWEEP | BULLISH | 01/19/24 | $235.00 | $77.2K | 235 | 78 |
| STZ | CALL | SWEEP | BEARISH | 01/19/24 | $235.00 | $69.6K | 376 | 70 |
| STZ | PUT | SWEEP | BEARISH | 01/19/24 | $220.00 | $65.0K | 848 | 142 |
Where Is Constellation Brands Standing Right Now?
- With a volume of 1,242,161, the price of STZ is down -4.22% at $228.91.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 84 days.
What The Experts Say On Constellation Brands:
- JP Morgan has decided to maintain their Overweight rating on Constellation Brands, which currently sits at a price target of $309.
- Goldman Sachs has decided to maintain their Buy rating on Constellation Brands, which currently sits at a price target of $305.
- Truist Securities downgraded its action to Hold with a price target of $260
- Goldman Sachs has decided to maintain their Buy rating on Constellation Brands, which currently sits at a price target of $305.
- Wedbush downgraded its action to Outperform with a price target of $300
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 Constellation Brands, 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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