Deep-pocketed investors have adopted a bullish approach towards AT&T T, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in T usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for AT&T. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 70% leaning bullish and 30% bearish. Among these notable options, 8 are puts, totaling $787,436, and 2 are calls, amounting to $135,090.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $10.0 to $22.0 for AT&T during the past quarter.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of AT&T stands at 15640.83, with a total volume reaching 16,319.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in AT&T, situated within the strike price corridor from $10.0 to $22.0, throughout the last 30 days.
AT&T 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| T | PUT | TRADE | BULLISH | 01/17/25 | $17.00 | $366.0K | 10.8K | 2.0K |
| T | PUT | SWEEP | BEARISH | 06/21/24 | $15.00 | $132.0K | 26.8K | 2.0K |
| T | CALL | SWEEP | BULLISH | 01/17/25 | $22.00 | $100.0K | 20.1K | 5.0K |
| T | PUT | SWEEP | BEARISH | 06/21/24 | $15.00 | $97.5K | 26.8K | 4.3K |
| T | PUT | SWEEP | BULLISH | 01/19/24 | $20.00 | $70.0K | 19.8K | 42 |
About AT&T
The wireless business contributes about two thirds of AT&T's revenue following the spinoff of Warner Media. The firm is the third-largest U.S. wireless carrier, connecting 70 million postpaid and 18 million prepaid phone customers. Fixed-line enterprise services, which account for about 18% of revenue, include internet access, private networking, security, voice, and wholesale network capacity. Residential fixed-line services, about 11% of revenue, primarily consist of broadband internet access service. AT&T also has a sizable presence in Mexico, serving 22 million customers, but this business only accounts for 3% of revenue. The firm still holds a 70% equity stake in satellite television provider DirecTV but does not consolidate this business in its financial statements.
AT&T's Current Market Status
- Currently trading with a volume of 10,037,555, the T's price is up by 1.13%, now at $16.48.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 55 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 AT&T, 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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