Looking At Crown Castle's Recent Unusual Options Activity

High-rolling investors have positioned themselves bearish on Crown Castle CCI, 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 CCI often signals that someone has privileged information.

Today, Benzinga's options scanner spotted 8 options trades for Crown Castle. This is not a typical pattern.

The sentiment among these major traders is split, with 37% bullish and 62% bearish. Among all the options we identified, there was one put, amounting to $34,080, and 7 calls, totaling $563,583.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $60.0 and $110.0 for Crown Castle, spanning the last three months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Crown Castle's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Crown Castle's whale trades within a strike price range from $60.0 to $110.0 in the last 30 days.

Crown Castle 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

About Crown Castle

Crown Castle International owns and leases roughly 40,000 cell towers in the United States. It also owns more than 85,000 route miles of fiber. It leases space on its towers to wireless service providers, which install equipment on the towers to support their wireless networks. The company's fiber is primarily leased by wireless service providers to set up small-cell network infrastructure and by enterprises for their internal connection needs. Crown Castle's towers and fiber are predominantly located in the largest U.S. cities. The company has a very concentrated customer base, with more than 70% of its revenue coming from the big three U.S. mobile carriers. Crown Castle operates as a real estate investment trust.

In light of the recent options history for Crown Castle, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Where Is Crown Castle Standing Right Now?

• Currently trading with a volume of 2,542,575, the CCI's price is down by -0.25%, now at $114.91.
• RSI readings suggest the stock is currently may be overbought.
• Anticipated earnings release is in 41 days.

What Analysts Are Saying About Crown Castle

Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $112.5.

• An analyst from Wells Fargo has elevated its stance to Equal-Weight, setting a new price target at $115.
• An analyst from HSBC has revised its rating downward to Hold, adjusting the price target to $110.

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 Crown Castle, Benzinga Pro gives you real-time options trades alerts.