Investors with a lot of money to spend have taken a bullish stance on Hershey HSY.
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 HSY, 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 Hershey.
This isn't normal.
The overall sentiment of these big-money traders is split between 62% bullish and 37%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $90,690, and 5 are calls, for a total amount of $254,958.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $180.0 and $195.0 for Hershey, spanning the last three months.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Hershey's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Hershey's substantial trades, within a strike price spectrum from $180.0 to $195.0 over the preceding 30 days.
Hershey Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| HSY | CALL | SWEEP | BULLISH | 08/16/24 | $190.00 | $130.2K | 41 | 96 |
| HSY | PUT | SWEEP | BEARISH | 05/17/24 | $190.00 | $34.8K | 527 | 60 |
| HSY | CALL | SWEEP | BULLISH | 02/16/24 | $180.00 | $32.7K | 280 | 53 |
| HSY | CALL | TRADE | BULLISH | 02/16/24 | $180.00 | $32.5K | 280 | 79 |
| HSY | CALL | TRADE | BULLISH | 02/16/24 | $180.00 | $32.5K | 280 | 28 |
About Hershey
Hershey is a leading confectionery manufacturer in the U.S. (around a $25 billion market), controlling around 45% of the domestic chocolate space (per IRI, as cited by Hershey). Beyond its namesake label, the firm's mix has expanded over the last 85 years and now consists of 100 brands, including Reese's, Kit Kat, Kisses, and Ice Breakers. Hershey's products are sold in about 80 countries, albeit with just a high-single-digit percentage of sales coming from markets outside the U.S., including Brazil, India, and Mexico. The firm has sought inorganic opportunities to extend its reach beyond its core confection business, adding Amplify Snack Brands and its Skinny Pop ready-to-eat popcorn to its mix, Pirate Brands, and Dot's Pretzels over the past few years.
In light of the recent options history for Hershey, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Hershey
- With a trading volume of 667,941, the price of HSY is down by -0.18%, reaching $190.15.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 34 days from now.
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 Hershey with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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