Investors with a lot of money to spend have taken a bearish stance on PACCAR PCAR.
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 PCAR, 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 10 uncommon options trades for PACCAR.
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, 3 are puts, for a total amount of $110,492, and 7 are calls, for a total amount of $439,746.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $67.5 to $90.0 for PACCAR over the recent three months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for PACCAR options trades today is 1401.6 with a total volume of 3,798.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for PACCAR's big money trades within a strike price range of $67.5 to $90.0 over the last 30 days.
PACCAR 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| PCAR | CALL | SWEEP | BEARISH | 01/17/25 | $85.00 | $117.8K | 821 | 763 |
| PCAR | CALL | SWEEP | NEUTRAL | 01/17/25 | $85.00 | $100.2K | 821 | 112 |
| PCAR | CALL | SWEEP | BULLISH | 11/17/23 | $87.50 | $66.8K | 1.1K | 319 |
| PCAR | CALL | SWEEP | BULLISH | 11/17/23 | $90.00 | $50.8K | 2.8K | 150 |
| PCAR | PUT | SWEEP | BULLISH | 01/17/25 | $85.00 | $44.6K | 1.4K | 757 |
About PACCAR
Paccar is a leading manufacturer of medium- and heavy-duty trucks under the premium brands Kenworth and Peterbilt, which are primarily sold in the NAFTA region and Australia, and DAF trucks, which are sold in Europe and South America. The company's trucks are sold through over 2,300 independent dealers globally. Paccar Financial Services provides retail and wholesale financing for customers and dealers, respectively. The company commands approximately 30% of the Class 8 market share in North America and 17% of the heavy-duty market share in Europe.
PACCAR's Current Market Status
- With a trading volume of 748,832, the price of PCAR is down by -0.16%, reaching $90.53.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 69 days from now.
Professional Analyst Ratings for PACCAR
3 market experts have recently issued ratings for this stock, with a consensus target price of $104.66666666666667.
- Showing optimism, an analyst from Deutsche Bank upgrades its rating to Buy with a revised price target of $115.
- An analyst from Citigroup has decided to maintain their Neutral rating on PACCAR, which currently sits at a price target of $92.
- An analyst from JP Morgan persists with their Overweight rating on PACCAR, maintaining a target price of $107.
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 PACCAR, 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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