Investors with a lot of money to spend have taken a bullish stance on Danaos DAC.
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 DAC, 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 Danaos.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $62,655, and 6 are calls, for a total amount of $363,690.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $55.0 to $80.0 for Danaos over the last 3 months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Danaos options trades today is 1520.0 with a total volume of 2,072.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Danaos's big money trades within a strike price range of $55.0 to $80.0 over the last 30 days.
Danaos Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| DAC | CALL | SWEEP | BULLISH | 02/16/24 | $75.00 | $138.3K | 222 | 402 |
| DAC | CALL | SWEEP | BULLISH | 02/16/24 | $75.00 | $89.0K | 222 | 184 |
| DAC | CALL | SWEEP | BEARISH | 01/17/25 | $60.00 | $41.2K | 973 | 0 |
| DAC | CALL | SWEEP | BEARISH | 01/19/24 | $80.00 | $36.2K | 1.1K | 465 |
| DAC | PUT | SWEEP | BEARISH | 04/19/24 | $70.00 | $32.7K | 1.3K | 283 |
About Danaos
Danaos Corp is an international owner of containerships. It provides international seaborne transportation services by operating vessels in the containership sector of the shipping industry. The company's customer includes CMA-CGM, Hyundai Merchant Marine, MSC, Yang Ming, Hapag Lloyd, ZIM, Maersk, COSCO, OOCL, Evergreen, KMTC, SITC, Niledutch, Samudera and ONE; and for Gemini, MSC, CMA-CGM, Hapag Lloyd and TS Lines. Geographically, the company operates in Australia-Asia, Europe, and America, with maximum revenue from the Australia-Asia region.
Having examined the options trading patterns of Danaos, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is Danaos Standing Right Now?
- Trading volume stands at 152,884, with DAC's price down by -0.61%, positioned at $77.14.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 39 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 Danaos, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
