Investors with a lot of money to spend have taken a bearish stance on Upstart Hldgs UPST.
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 UPST, 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 8 uncommon options trades for Upstart Hldgs.
This isn't normal.
The overall sentiment of these big-money traders is split between 25% bullish and 75%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $669,209, and 5 are calls, for a total amount of $168,226.
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 $30.0 to $40.0 for Upstart Hldgs over the last 3 months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Upstart Hldgs stands at 3227.86, with a total volume reaching 1,152.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Upstart Hldgs, situated within the strike price corridor from $30.0 to $40.0, throughout the last 30 days.
Upstart Hldgs 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| UPST | PUT | SWEEP | BEARISH | 02/16/24 | $35.00 | $271.7K | 5.3K | 519 |
| UPST | PUT | SWEEP | BEARISH | 01/19/24 | $35.00 | $215.0K | 4.1K | 53 |
| UPST | PUT | SWEEP | BEARISH | 02/16/24 | $30.00 | $182.5K | 868 | 7 |
| UPST | CALL | TRADE | BEARISH | 12/15/23 | $32.50 | $41.9K | 1.8K | 1 |
| UPST | CALL | SWEEP | BULLISH | 12/15/23 | $32.50 | $37.9K | 1.8K | 136 |
About Upstart Hldgs
Upstart Holdings Inc provides credit services. The company provides a proprietary, cloud-based, artificial intelligence lending platform. The platform aggregates consumer demand for loans and connects it to the network of Upstart AI-enabled bank partners. The revenue of the company comprised of fees paid by banks.
Where Is Upstart Hldgs Standing Right Now?
- With a trading volume of 2,676,154, the price of UPST is up by 2.3%, reaching $33.8.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 69 days from now.
Expert Opinions on Upstart Hldgs
In the last month, 3 experts released ratings on this stock with an average target price of $21.0.
- An analyst from Wedbush downgraded its action to Underperform with a price target of $10.
- An analyst from JP Morgan has decided to maintain their Underweight rating on Upstart Hldgs, which currently sits at a price target of $26.
- Consistent in their evaluation, an analyst from Piper Sandler keeps a Neutral rating on Upstart Hldgs with a target price of $27.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Upstart Hldgs with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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