High-rolling investors have positioned themselves bearish on Kenvue KVUE, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in KVUE often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 10 options trades for Kenvue. This is not a typical pattern.
The sentiment among these major traders is split, with 20% bullish and 80% bearish. Among all the options we identified, there was one put, amounting to $25,452, and 9 calls, totaling $953,133.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $21.0 to $27.0 for Kenvue over the last 3 months.
Analyzing Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Kenvue's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Kenvue's significant trades, within a strike price range of $21.0 to $27.0, over the past month.
Kenvue Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| KVUE | CALL | TRADE | BEARISH | 02/16/24 | $25.00 | $539.6K | 45.6K | 18.6K |
| KVUE | CALL | TRADE | BEARISH | 01/19/24 | $21.00 | $96.7K | 53.3K | 1.0K |
| KVUE | CALL | SWEEP | BEARISH | 02/16/24 | $21.00 | $84.9K | 101.4K | 1.1K |
| KVUE | CALL | SWEEP | BULLISH | 02/16/24 | $21.00 | $71.8K | 101.4K | 1.9K |
| KVUE | CALL | SWEEP | BEARISH | 02/16/24 | $22.50 | $49.9K | 104.9K | 591 |
About Kenvue
Kenvue is the world's largest pure-play consumer health company by sales, generating $15 billion in annual revenue. Formerly known as Johnson & Johnson's consumer segment, Kenvue spun off and went public in May 2023. It operates in a variety of silos within consumer health, such as cough, cold and allergy care, pain management, face and body care, and oral care, as well as women's health. Its portfolio includes a wide array of some of the most well-known brands in the space, including Tylenol, Listerine, Johnson's, Aveeno, and Neutrogena. Despite playing in a fragmented industry with intense competition and ever-changing consumer preferences, many of Kenvue's brands are the global leader in their respective segment thanks to their strong brand power.
After a thorough review of the options trading surrounding Kenvue, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Kenvue
- Currently trading with a volume of 7,760,939, the KVUE's price is down by -0.24%, now at $20.64.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 66 days.
What Analysts Are Saying About Kenvue
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $20.0.
- Reflecting concerns, an analyst from Piper Sandler lowers its rating to Neutral with a new price target of $20.
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 Kenvue, 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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