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 11 uncommon options trades for PureCycle Technologies.
This isn't normal.
The overall sentiment of these big-money traders is split between 18% bullish and 81%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $232,720, and 9 are calls, for a total amount of $1,119,171.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $3.0 to $11.0 for PureCycle Technologies over the recent three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for PureCycle Technologies options trades today is 7711.4 with a total volume of 9,294.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for PureCycle Technologies's big money trades within a strike price range of $3.0 to $11.0 over the last 30 days.
PureCycle Technologies Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| PCT | CALL | TRADE | BEARISH | 12/15/23 | $3.00 | $500.0K | 5.5K | 2.7K |
| PCT | CALL | SWEEP | BULLISH | 01/19/24 | $7.50 | $248.6K | 8.3K | 2 |
| PCT | PUT | SWEEP | BULLISH | 01/19/24 | $11.00 | $118.7K | 3.2K | 3 |
| PCT | PUT | TRADE | NEUTRAL | 01/19/24 | $11.00 | $114.0K | 3.2K | 215 |
| PCT | CALL | SWEEP | BEARISH | 12/15/23 | $3.00 | $95.0K | 5.5K | 760 |
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.
Following our analysis of the options activities associated with PureCycle Technologies, we pivot to a closer look at the company's own performance.
PureCycle Technologies's Current Market Status
- Currently trading with a volume of 2,833,003, the PCT's price is up by 4.89%, now at $5.15.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 91 days.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest PureCycle Technologies options trades with real-time alerts from Benzinga Pro.
© 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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