High-rolling investors have positioned themselves bearish on Truist Finl TFC, 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 TFC often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 21 options trades for Truist Finl. This is not a typical pattern.
The sentiment among these major traders is split, with 38% bullish and 61% bearish. Among all the options we identified, there was one put, amounting to $101,250, and 20 calls, totaling $845,223.
What's The Price Target?
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 $42.5 for Truist Finl over the last 3 months.
Insights into Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Truist Finl'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 Truist Finl's whale activity within a strike price range from $30.0 to $42.5 in the last 30 days.
Truist Finl 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| TFC | CALL | TRADE | BULLISH | 01/17/25 | $30.00 | $176.0K | 1.1K | 200 |
| TFC | PUT | SWEEP | BULLISH | 06/21/24 | $42.50 | $101.2K | 406 | 163 |
| TFC | CALL | SWEEP | BEARISH | 06/21/24 | $32.50 | $94.2K | 1.8K | 0 |
| TFC | CALL | SWEEP | BEARISH | 06/21/24 | $37.50 | $39.5K | 4.4K | 1.0K |
| TFC | CALL | SWEEP | BULLISH | 01/19/24 | $35.00 | $37.5K | 37.7K | 2.6K |
About Truist Finl
Based in Charlotte, North Carolina, Truist is the combination of BB&T and SunTrust. Truist is a regional bank with a presence primarily in the Southeastern United States. In addition to commercial banking, retail banking, and investment banking operations, the company operates several nonbank segments, the primary one being its insurance brokerage business.
After a thorough review of the options trading surrounding Truist Finl, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Truist Finl
- With a volume of 1,257,186, the price of TFC is up 0.19% at $37.75.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 8 days.
Expert Opinions on Truist Finl
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $41.6125.
- Consistent in their evaluation, an analyst from Barclays keeps a Equal-Weight rating on Truist Finl with a target price of $42.
- An analyst from Raymond James persists with their Outperform rating on Truist Finl, maintaining a target price of $41.
- An analyst from B of A Securities upgraded its action to Buy with a price target of $43.
- Showing optimism, an analyst from Odeon Capital upgrades its rating to Buy with a revised price target of $40.
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 Truist Finl with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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