Investors with a lot of money to spend have taken a bearish stance on PureCycle Technologies PCT.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with PCT, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 15 uncommon options trades for PureCycle Technologies.
This isn't normal.
The overall sentiment of these big-money traders is split between 40% bullish and 60%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $353,850, and 10 are calls, for a total amount of $555,409.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $3.0 to $6.0 for PureCycle Technologies during the past quarter.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for PureCycle Technologies's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across PureCycle Technologies's significant trades, within a strike price range of $3.0 to $6.0, over the past month.
PureCycle Technologies Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| PCT | CALL | SWEEP | BEARISH | 02/16/24 | $6.00 | $125.0K | 6.7K | 2.5K |
| PCT | PUT | SWEEP | BEARISH | 02/16/24 | $4.00 | $122.6K | 4.4K | 1.8K |
| PCT | CALL | SWEEP | BULLISH | 02/16/24 | $4.00 | $116.0K | 8.3K | 1.5K |
| PCT | PUT | TRADE | BULLISH | 02/16/24 | $3.00 | $112.6K | 3.0K | 2.2K |
| PCT | CALL | SWEEP | NEUTRAL | 02/16/24 | $4.00 | $71.9K | 8.3K | 567 |
About PureCycle Technologies
PureCycle Technologies Inc holds a global license to commercialize the only patented solvent-based purification recycling technology, developed by The Procter & Gamble Company (P&G), for restoring waste polypropylene (PP) into a virgin-like resin. The proprietary process removes color, odor and other contaminants from recycled feedstock resulting in virgin-like polypropylene suitable for any PP market.
After a thorough review of the options trading surrounding PureCycle Technologies, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of PureCycle Technologies
- With a volume of 6,257,284, the price of PCT is up 11.44% at $3.41.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 121 days.
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 PureCycle Technologies, 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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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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