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This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>ACHR</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$6.00</td>
<td>$1.0 million</td>
<td>20.4K</td>
<td>69.3K</td>
</tr>
<tr>
<td>CHPT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/02/24</td>
<td>$2.50</td>
<td>$26.7K</td>
<td>560</td>
<td>5.6K</td>
</tr>
<tr>
<td>UAL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/16/24</td>
<td>$50.00</td>
<td>$42.3K</td>
<td>9.7K</td>
<td>3.2K</td>
</tr>
<tr>
<td>BLDR</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>08/16/24</td>
<td>$200.00</td>
<td>$28.7K</td>
<td>1.2K</td>
<td>1.2K</td>
</tr>
<tr>
<td>RUN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$20.00</td>
<td>$75.0K</td>
<td>14.0K</td>
<td>886</td>
</tr>
<tr>
<td>BA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$200.00</td>
<td>$50.7K</td>
<td>1.2K</td>
<td>575</td>
</tr>
<tr>
<td>CAT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>07/26/24</td>
<td>$365.00</td>
<td>$181.7K</td>
<td>140</td>
<td>347</td>
</tr>
<tr>
<td>UPS</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$155.00</td>
<td>$30.0K</td>
<td>634</td>
<td>52</td>
</tr>
<tr>
<td>FDX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$300.00</td>
<td>$54.1K</td>
<td>530</td>
<td>38</td>
</tr>
<tr>
<td>WCC</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$180.00</td>
<td>$26.4K</td>
<td>5</td>
<td>22</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• Regarding ACHR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACHR#NYSE">ACHR</a>), we observe a call option trade with bearish sentiment. It expires in 94 day(s) on October 18, 2024. Parties traded 33565 contract(s) at a $6.00 strike. The total cost received by the writing party (or parties) was $1.0 million, with a price of $30.0 per contract. There were 20414 open contracts at this strike prior to today, and today 69340 contract(s) were bought and sold. 
• Regarding CHPT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHPT#NYSE">CHPT</a>), we observe a call option sweep with bullish sentiment. It expires in 17 day(s) on August 2, 2024. Parties traded 1576 contract(s) at a $2.50 strike. This particular call needed to be split into 8 different trades to become filled. The total cost received by the writing party (or parties) was $26.7K, with a price of $17.0 per contract. There were 560 open contracts at this strike prior to today, and today 5607 contract(s) were bought and sold. 
• Regarding UAL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>), we observe a put option sweep with bullish sentiment. It expires in 31 day(s) on August 16, 2024. Parties traded 92 contract(s) at a $50.00 strike. This particular put needed to be split into 18 different trades to become filled. The total cost received by the writing party (or parties) was $42.3K, with a price of $460.0 per contract. There were 9704 open contracts at this strike prior to today, and today 3264 contract(s) were bought and sold. 
• Regarding BLDR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLDR#NYSE">BLDR</a>), we observe a call option trade with bearish sentiment. It expires in 31 day(s) on August 16, 2024. Parties traded 205 contract(s) at a $200.00 strike. The total cost received by the writing party (or parties) was $28.7K, with a price of $140.0 per contract. There were 1212 open contracts at this strike prior to today, and today 1212 contract(s) were bought and sold. 
• For RUN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>), we notice a call option trade that happens to be bullish, expiring in 185 day(s) on January 17, 2025. This event was a transfer of 250 contract(s) at a $20.00 strike. The total cost received by the writing party (or parties) was $75.0K, with a price of $300.0 per contract. There were 14067 open contracts at this strike prior to today, and today 886 contract(s) were bought and sold. 
• For BA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>), we notice a call option sweep that happens to be bullish, expiring in 122 day(s) on November 15, 2024. This event was a transfer of 50 contract(s) at a $200.00 strike. This particular call needed to be split into 16 different trades to become filled. The total cost received by the writing party (or parties) was $50.7K, with a price of $1015.0 per contract. There were 1230 open contracts at this strike prior to today, and today 575 contract(s) were bought and sold. 
• Regarding CAT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>), we observe a call option trade with bearish sentiment. It expires in 10 day(s) on July 26, 2024. Parties traded 460 contract(s) at a $365.00 strike. The total cost received by the writing party (or parties) was $181.7K, with a price of $395.0 per contract. There were 140 open contracts at this strike prior to today, and today 347 contract(s) were bought and sold. 
• Regarding UPS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>), we observe a call option sweep with bearish sentiment. It expires in 94 day(s) on October 18, 2024. Parties traded 69 contract(s) at a $155.00 strike. This particular call needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $30.0K, with a price of $435.0 per contract. There were 634 open contracts at this strike prior to today, and today 52 contract(s) were bought and sold. 
• Regarding FDX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>), we observe a call option trade with bearish sentiment. It expires in 549 day(s) on January 16, 2026. Parties traded 10 contract(s) at a $300.00 strike. The total cost received by the writing party (or parties) was $54.1K, with a price of $5415.0 per contract. There were 530 open contracts at this strike prior to today, and today 38 contract(s) were bought and sold. 
• For WCC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WCC#NYSE">WCC</a>), we notice a put option trade that happens to be bearish, expiring in 3 day(s) on July 19, 2024. This event was a transfer of 150 contract(s) at a $180.00 strike. The total cost received by the writing party (or parties) was $26.4K, with a price of $176.0 per contract. There were 5 open contracts at this strike prior to today, and today 22 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

ACHR

BLDR

CHPT

10 Industrials Stocks With Whale Alerts In Today's Session

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Below are some instances of options activity happening in the Consumer Discretionary sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>TSLA</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>07/19/24</td>
<td>$255.00</td>
<td>$60.5K</td>
<td>9.4K</td>
<td>56.5K</td>
</tr>
<tr>
<td>XPEV</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$9.00</td>
<td>$26.0K</td>
<td>8.3K</td>
<td>3.3K</td>
</tr>
<tr>
<td>AMZN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>08/16/24</td>
<td>$205.00</td>
<td>$813.2K</td>
<td>24.9K</td>
<td>1.5K</td>
</tr>
<tr>
<td>QS</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/16/24</td>
<td>$8.00</td>
<td>$30.3K</td>
<td>6.2K</td>
<td>1.2K</td>
</tr>
<tr>
<td>W</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$55.00</td>
<td>$30.8K</td>
<td>3.4K</td>
<td>408</td>
</tr>
<tr>
<td>GME</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>08/02/24</td>
<td>$44.00</td>
<td>$25.7K</td>
<td>0</td>
<td>186</td>
</tr>
<tr>
<td>GM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$41.00</td>
<td>$55.2K</td>
<td>15.0K</td>
<td>150</td>
</tr>
<tr>
<td>RH</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$340.00</td>
<td>$42.4K</td>
<td>481</td>
<td>79</td>
</tr>
<tr>
<td>HD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>08/02/24</td>
<td>$367.50</td>
<td>$44.3K</td>
<td>0</td>
<td>74</td>
</tr>
<tr>
<td>WSM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>08/16/24</td>
<td>$115.00</td>
<td>$157.0K</td>
<td>96</td>
<td>46</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• Regarding TSLA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), we observe a call option trade with neutral sentiment. It expires in 3 day(s) on July 19, 2024. Parties traded 100 contract(s) at a $255.00 strike. The total cost received by the writing party (or parties) was $60.5K, with a price of $605.0 per contract. There were 9480 open contracts at this strike prior to today, and today 56502 contract(s) were bought and sold. 
• For XPEV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>), we notice a call option sweep that happens to be bearish, expiring in 3 day(s) on July 19, 2024. This event was a transfer of 1000 contract(s) at a $9.00 strike. This particular call needed to be split into 19 different trades to become filled. The total cost received by the writing party (or parties) was $26.0K, with a price of $26.0 per contract. There were 8329 open contracts at this strike prior to today, and today 3357 contract(s) were bought and sold. 
• For AMZN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), we notice a call option trade that happens to be bullish, expiring in 31 day(s) on August 16, 2024. This event was a transfer of 1749 contract(s) at a $205.00 strike. The total cost received by the writing party (or parties) was $813.2K, with a price of $465.0 per contract. There were 24916 open contracts at this strike prior to today, and today 1509 contract(s) were bought and sold. 
• For QS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QS#NYSE">QS</a>), we notice a call option sweep that happens to be bullish, expiring in 31 day(s) on August 16, 2024. This event was a transfer of 204 contract(s) at a $8.00 strike. This particular call needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $30.3K, with a price of $149.0 per contract. There were 6250 open contracts at this strike prior to today, and today 1215 contract(s) were bought and sold. 
• For W (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/W#NYSE">W</a>), we notice a put option sweep that happens to be bearish, expiring in 3 day(s) on July 19, 2024. This event was a transfer of 315 contract(s) at a $55.00 strike. This particular put needed to be split into 25 different trades to become filled. The total cost received by the writing party (or parties) was $30.8K, with a price of $97.0 per contract. There were 3433 open contracts at this strike prior to today, and today 408 contract(s) were bought and sold. 
• Regarding GME (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>), we observe a put option trade with neutral sentiment. It expires in 17 day(s) on August 2, 2024. Parties traded 15 contract(s) at a $44.00 strike. The total cost received by the writing party (or parties) was $25.7K, with a price of $1717.0 per contract. There were 0 open contracts at this strike prior to today, and today 186 contract(s) were bought and sold. 
• Regarding GM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), we observe a call option sweep with bullish sentiment. It expires in 66 day(s) on September 20, 2024. Parties traded 60 contract(s) at a $41.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $55.2K, with a price of $920.0 per contract. There were 15016 open contracts at this strike prior to today, and today 150 contract(s) were bought and sold. 
• For RH (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RH#NYSE">RH</a>), we notice a call option trade that happens to be neutral, expiring in 185 day(s) on January 17, 2025. This event was a transfer of 15 contract(s) at a $340.00 strike. The total cost received by the writing party (or parties) was $42.4K, with a price of $2830.0 per contract. There were 481 open contracts at this strike prior to today, and today 79 contract(s) were bought and sold. 
• Regarding HD (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>), we observe a put option sweep with neutral sentiment. It expires in 17 day(s) on August 2, 2024. Parties traded 70 contract(s) at a $367.50 strike. This particular put needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $44.3K, with a price of $649.0 per contract. There were 0 open contracts at this strike prior to today, and today 74 contract(s) were bought and sold. 
• For WSM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSM#NYSE">WSM</a>), we notice a call option sweep that happens to be neutral, expiring in 31 day(s) on August 16, 2024. This event was a transfer of 34 contract(s) at a $115.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $157.0K, with a price of $4575.0 per contract. There were 96 open contracts at this strike prior to today, and today 46 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

AMZN

TSLA

XPEV

10 Consumer Discretionary Stocks Whale Activity In Today's Session

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Below are some instances of options activity happening in the Information Technology sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NVDA</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>07/19/24</td>
<td>$127.00</td>
<td>$33.8K</td>
<td>15.3K</td>
<td>68.8K</td>
</tr>
<tr>
<td>MARA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/16/24</td>
<td>$30.00</td>
<td>$209.8K</td>
<td>12.8K</td>
<td>8.9K</td>
</tr>
<tr>
<td>AAPL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$300.00</td>
<td>$97.5K</td>
<td>55.0K</td>
<td>4.9K</td>
</tr>
<tr>
<td>SMCI</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>07/19/24</td>
<td>$900.00</td>
<td>$48.2K</td>
<td>2.8K</td>
<td>3.7K</td>
</tr>
<tr>
<td>CLSK</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$18.50</td>
<td>$30.0K</td>
<td>172</td>
<td>2.1K</td>
</tr>
<tr>
<td>MSTR</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>07/19/24</td>
<td>$1700.00</td>
<td>$37.2K</td>
<td>882</td>
<td>1.3K</td>
</tr>
<tr>
<td>MSFT</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>07/26/24</td>
<td>$450.00</td>
<td>$35.6K</td>
<td>1.8K</td>
<td>1.1K</td>
</tr>
<tr>
<td>CORZ</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$7.00</td>
<td>$52.0K</td>
<td>6.2K</td>
<td>879</td>
</tr>
<tr>
<td>MU</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$140.00</td>
<td>$27.5K</td>
<td>5.8K</td>
<td>441</td>
</tr>
<tr>
<td>IBM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>10/18/24</td>
<td>$180.00</td>
<td>$44.5K</td>
<td>1.2K</td>
<td>402</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• Regarding NVDA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), we observe a call option trade with neutral sentiment. It expires in 3 day(s) on July 19, 2024. Parties traded 162 contract(s) at a $127.00 strike. The total cost received by the writing party (or parties) was $33.8K, with a price of $209.0 per contract. There were 15310 open contracts at this strike prior to today, and today 68866 contract(s) were bought and sold. 
• For MARA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>), we notice a call option sweep that happens to be bearish, expiring in 31 day(s) on August 16, 2024. This event was a transfer of 1221 contract(s) at a $30.00 strike. This particular call needed to be split into 17 different trades to become filled. The total cost received by the writing party (or parties) was $209.8K, with a price of $172.0 per contract. There were 12852 open contracts at this strike prior to today, and today 8905 contract(s) were bought and sold. 
• Regarding AAPL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), we observe a call option trade with bearish sentiment. It expires in 185 day(s) on January 17, 2025. Parties traded 500 contract(s) at a $300.00 strike. The total cost received by the writing party (or parties) was $97.5K, with a price of $195.0 per contract. There were 55043 open contracts at this strike prior to today, and today 4915 contract(s) were bought and sold. 
• Regarding SMCI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), we observe a call option trade with neutral sentiment. It expires in 3 day(s) on July 19, 2024. Parties traded 20 contract(s) at a $900.00 strike. The total cost received by the writing party (or parties) was $48.2K, with a price of $2410.0 per contract. There were 2876 open contracts at this strike prior to today, and today 3741 contract(s) were bought and sold. 
• Regarding CLSK (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLSK#NASDAQ">CLSK</a>), we observe a put option trade with bullish sentiment. It expires in 3 day(s) on July 19, 2024. Parties traded 1000 contract(s) at a $18.50 strike. The total cost received by the writing party (or parties) was $30.0K, with a price of $30.0 per contract. There were 172 open contracts at this strike prior to today, and today 2110 contract(s) were bought and sold. 
• Regarding MSTR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), we observe a call option trade with neutral sentiment. It expires in 3 day(s) on July 19, 2024. Parties traded 11 contract(s) at a $1700.00 strike. The total cost received by the writing party (or parties) was $37.2K, with a price of $3383.0 per contract. There were 882 open contracts at this strike prior to today, and today 1344 contract(s) were bought and sold. 
• For MSFT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), we notice a put option trade that happens to be neutral, expiring in 10 day(s) on July 26, 2024. This event was a transfer of 46 contract(s) at a $450.00 strike. The total cost received by the writing party (or parties) was $35.6K, with a price of $775.0 per contract. There were 1832 open contracts at this strike prior to today, and today 1138 contract(s) were bought and sold. 
• Regarding CORZ (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CORZ#NASDAQ">CORZ</a>), we observe a call option sweep with bearish sentiment. It expires in 185 day(s) on January 17, 2025. Parties traded 100 contract(s) at a $7.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $52.0K, with a price of $520.0 per contract. There were 6208 open contracts at this strike prior to today, and today 879 contract(s) were bought and sold. 
• For MU (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), we notice a call option trade that happens to be bearish, expiring in 66 day(s) on September 20, 2024. This event was a transfer of 50 contract(s) at a $140.00 strike. The total cost received by the writing party (or parties) was $27.5K, with a price of $550.0 per contract. There were 5833 open contracts at this strike prior to today, and today 441 contract(s) were bought and sold. 
• Regarding IBM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>), we observe a put option sweep with neutral sentiment. It expires in 94 day(s) on October 18, 2024. Parties traded 72 contract(s) at a $180.00 strike. This particular put needed to be split into 13 different trades to become filled. The total cost received by the writing party (or parties) was $44.5K, with a price of $619.0 per contract. There were 1249 open contracts at this strike prior to today, and today 402 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

AAPL

CLSK

Core Scientific, Inc. - Class A Common Stock

CORZ

MARA

MSFT

MSTR

NVDA

SMCI

10 Information Technology Stocks With Whale Alerts In Today's Session

WIIM

LECO

Shares of machine companies are trading higher. Strength may be due to trader optimism that the Fed will cut rates.

Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) has outperformed the market over the past 15 years by 1.02% on an annualized basis producing an average annual return of 13.57%. Currently, Allstate has a market capitalization of $44.61 billion. 
Buying $1000 In ALL: If an investor had bought $1000 of ALL stock 15 years ago, it would be worth $6,848.46 today based on a price of $169.02 for ALL at the time of writing.
<h3>Allstate's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721151244_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

News

Trading Ideas

If You Invested $1000 In This Stock 15 Years Ago, You Would Have $6,800 Today

United Airlines Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) has outperformed the market over the past 15 years by 6.59% on an annualized basis producing an average annual return of 19.14%. Currently, United Airlines Holdings has a market capitalization of $15.28 billion. 
Buying $1000 In UAL: If an investor had bought $1000 of UAL stock 15 years ago, it would be worth $12,490.59 today based on a price of $46.47 for UAL at the time of writing.
<h3>United Airlines Holdings's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721151240_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning United Airlines Holdings Stock In The Last 15 Years

Scotts Miracle-Gro U.S. Consumer Business Pursuing Growth Opportunities At Emerging Touchpoints; Expects $150M In Supply Chain Cost Savings Over Next Three Years; Company Aims For 3% Average Annual Net Sales Growth From Fiscal 2025 Through Fiscal 2027

Deep-pocketed investors have adopted a bullish approach towards Applied Mat (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAT#NASDAQ">AMAT</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in AMAT usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 16 extraordinary options activities for Applied Mat. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 56% leaning bullish and 43% bearish. Among these notable options, 8 are puts, totaling $387,822, and 8 are calls, amounting to $411,975.
<h3>What's The Price Target?</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $135.0 to $280.0 for Applied Mat over the recent three months. 
<h3>Volume &amp; Open Interest Development</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Applied Mat's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Applied Mat's significant trades, within a strike price range of $135.0 to $280.0, over the past month.
<h3>Applied Mat Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721151117_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>AMAT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$49.4</td>
<td>$47.05</td>
<td>$47.87</td>
<td>$250.00</td>
<td>$100.6K</td>
<td>940</td>
<td style="text-align: right;">3</td>
</tr>
<tr>
<td>AMAT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$23.8</td>
<td>$23.45</td>
<td>$23.5</td>
<td>$260.00</td>
<td>$86.9K</td>
<td>15</td>
<td style="text-align: right;">2</td>
</tr>
<tr>
<td>AMAT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$95.25</td>
<td>$93.75</td>
<td>$94.32</td>
<td>$150.00</td>
<td>$84.8K</td>
<td>53</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>AMAT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$2.28</td>
<td>$2.21</td>
<td>$2.27</td>
<td>$240.00</td>
<td>$79.6K</td>
<td>1.3K</td>
<td style="text-align: right;">3</td>
</tr>
<tr>
<td>AMAT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$1.27</td>
<td>$1.25</td>
<td>$1.25</td>
<td>$235.00</td>
<td>$70.3K</td>
<td>513</td>
<td style="text-align: right;">54</td>
</tr>
</tbody>
</table>

<h3>About Applied Mat</h3>
Applied Materials is the largest semiconductor wafer fabrication equipment, or WFE, manufacturer in the world. Applied Materials has a broad portfolio spanning nearly every corner of the WFE ecosystem. Specifically, Applied Materials holds a market share leadership position in deposition, which entails the layering of new materials on semiconductor wafers. It is more exposed to general-purpose logic chips made at integrated device manufacturers and foundries. It counts the largest chipmakers in the world as customers, including TSMC, Intel, and Samsung.
Having examined the options trading patterns of Applied Mat, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Applied Mat's Current Market Status</h3>
<ul>
<li>Trading volume stands at 1,825,822, with AMAT's price down by -0.58%, positioned at $244.12.</li>
<li>RSI indicators show the stock to be is currently neutral between overbought and oversold.</li>
<li>Earnings announcement expected in 30 days.</li>
</ul>
<h3>What The Experts Say On Applied Mat</h3>
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $286.25.
<ul>
<li>Maintaining their stance, an analyst from Stifel continues to hold a Buy rating for Applied Mat, targeting a price of $275. </li>
<li>Consistent in their evaluation, an analyst from B. Riley Securities keeps a Buy rating on Applied Mat with a target price of $300. </li>
<li>Consistent in their evaluation, an analyst from Cantor Fitzgerald keeps a Overweight rating on Applied Mat with a target price of $290. </li>
<li>An analyst from Wells Fargo has decided to maintain their Overweight rating on Applied Mat, which currently sits at a price target of $280. </li>
</ul>
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 Applied Mat options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

AMAT

Applied Mat Unusual Options Activity For July 16

Deep-pocketed investors have adopted a bearish approach towards Enphase Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in ENPH usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 18 extraordinary options activities for Enphase Energy. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 16% leaning bullish and 72% bearish. Among these notable options, 2 are puts, totaling $264,583, and 16 are calls, amounting to $710,559.
<h3>Predicted Price Range</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $55.0 to $170.0 for Enphase Energy over the recent three months. 
<h3>Volume &amp; Open Interest Trends</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Enphase Energy's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Enphase Energy's substantial trades, within a strike price spectrum from $55.0 to $170.0 over the preceding 30 days.
<h3>Enphase Energy Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721151112_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>ENPH</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$20.35</td>
<td>$19.55</td>
<td>$19.55</td>
<td>$95.00</td>
<td>$172.0K</td>
<td>143</td>
<td style="text-align: right;">2</td>
</tr>
<tr>
<td>ENPH</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/16/24</td>
<td>$10.05</td>
<td>$9.8</td>
<td>$9.95</td>
<td>$115.00</td>
<td>$92.5K</td>
<td>2.1K</td>
<td style="text-align: right;">69</td>
</tr>
<tr>
<td>ENPH</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$67.95</td>
<td>$65.7</td>
<td>$66.83</td>
<td>$55.00</td>
<td>$66.8K</td>
<td>36</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>ENPH</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$61.9</td>
<td>$60.85</td>
<td>$60.85</td>
<td>$65.00</td>
<td>$60.8K</td>
<td>716</td>
<td style="text-align: right;">30</td>
</tr>
<tr>
<td>ENPH</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$61.05</td>
<td>$60.75</td>
<td>$60.75</td>
<td>$65.00</td>
<td>$60.7K</td>
<td>716</td>
<td style="text-align: right;">70</td>
</tr>
</tbody>
</table>

<h3>About Enphase Energy</h3>
Enphase Energy is a global energy technology company. The company delivers smart, easy-to-use solutions that manage solar generation, storage, and communication on one platform. The company's microinverter technology primarily serves the rooftop solar market and produces a fully integrated solar-plus-storage solution. Geographically, it derives a majority of revenue from the United States.
In light of the recent options history for Enphase Energy, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Where Is Enphase Energy Standing Right Now?</h3>
<ul>
<li>Currently trading with a volume of 2,025,997, the ENPH's price is up by 1.68%, now at $114.96. </li>
<li>RSI readings suggest the stock is currently is currently neutral between overbought and oversold.</li>
<li>Anticipated earnings release is in 7 days.</li>
</ul>
<h3>What The Experts Say On Enphase Energy</h3>
5 market experts have recently issued ratings for this stock, with a consensus target price of $115.564.
<ul>
<li>An analyst from Susquehanna persists with their Positive rating on Enphase Energy, maintaining a target price of $147. </li>
<li>An analyst from JP Morgan persists with their Overweight rating on Enphase Energy, maintaining a target price of $124. </li>
<li>In a cautious move, an analyst from GLJ Research downgraded its rating to Sell, setting a price target of $45. </li>
<li>An analyst from JP Morgan persists with their Overweight rating on Enphase Energy, maintaining a target price of $130. </li>
<li>An analyst from Barclays has decided to maintain their Overweight rating on Enphase Energy, which currently sits at a price target of $131. </li>
</ul>
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 Enphase Energy with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

ENPH

Smart Money Is Betting Big In ENPH Options

Investors with a lot of money to spend have taken a bullish stance on United Airlines Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>).
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 UAL, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 29 uncommon options trades for United Airlines Holdings.
This isn't normal.
The overall sentiment of these big-money traders is split between 51% bullish and 44%, bearish.
Out of all of the special options we uncovered, 13 are puts, for a total amount of $874,513, and 16 are calls, for a total amount of $632,895.
<h3>Predicted Price Range</h3>
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 $55.0 for United Airlines Holdings over the last 3 months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
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 United Airlines Holdings'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 United Airlines Holdings's whale trades within a strike price range from $30.0 to $55.0 in the last 30 days. 
<h3>United Airlines Holdings Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721151107_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>UAL</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$1.08</td>
<td>$0.6</td>
<td>$0.93</td>
<td>$30.00</td>
<td>$186.0K</td>
<td>1.3K</td>
<td>2</td>
</tr>
<tr>
<td>UAL</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$1.61</td>
<td>$0.95</td>
<td>$1.41</td>
<td>$33.00</td>
<td>$141.0K</td>
<td>4.6K</td>
<td>4</td>
</tr>
<tr>
<td>UAL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/16/24</td>
<td>$5.85</td>
<td>$5.7</td>
<td>$5.7</td>
<td>$50.00</td>
<td>$139.0K</td>
<td>9.7K</td>
<td>0</td>
</tr>
<tr>
<td>UAL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/16/24</td>
<td>$4.75</td>
<td>$4.65</td>
<td>$4.65</td>
<td>$50.00</td>
<td>$65.1K</td>
<td>9.7K</td>
<td>1.6K</td>
</tr>
<tr>
<td>UAL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$3.05</td>
<td>$3.0</td>
<td>$3.05</td>
<td>$46.00</td>
<td>$61.0K</td>
<td>758</td>
<td>91</td>
</tr>
</tbody>
</table>

<h3>About United Airlines Holdings</h3>
United Airlines is a major us network carrier with hubs in San Francisco, Chicago, Houston, Denver, Los Angeles, New York/Newark, and Washington, D.C. United operates a hub-and-spoke system that is more focused on international and long-haul travel than its large U.S. peers.
Having examined the options trading patterns of United Airlines Holdings, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Present Market Standing of United Airlines Holdings</h3>
<ul>
<li>With a volume of 5,240,063, the price of UAL is up 4.85% at $46.47. </li>
<li>RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.</li>
<li>Next earnings are expected to be released in 1 days.</li>
</ul>
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 United Airlines Holdings with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Behind the Scenes of United Airlines Holdings's Latest Options Trends

HC Wainwright &amp; Co. analyst Joseph Pantginis reiterates Celldex Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLDX#NASDAQ">CLDX</a>) with a Buy and maintains $80 price target.

Price Target

Reiteration

Analyst Ratings

CLDX

HC Wainwright & Co. Reiterates Buy on Celldex Therapeutics, Maintains $80 Price Target

Rivian Automotive Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) shares are trading slightly higher by 1.4% to $17.75 during Tuesday&#8217;s session, rebounding following Monday&#8217;s weakness. The stock is gaining after June U.S. retail sales showed no month-over-month growth, dropping from a revised 0.3% increase in May to flat, <a href="https://www.benzinga.com/markets/bonds/24/07/39792320/june-retail-sales-stagnate-traders-fully-price-in-september-interest-rate-cut">aligning with predictions</a>.
Fed futures now indicate a guaranteed rate cut in September. Traders estimate an 88% chance for a 25-basis-point cut and a 12% chance for a 50-basis-point cut.
<h2 class="wp-block-heading">Why This Matters To RIVN Investors</h2>
The expectation of a rate cut by the Federal Reserve can boost stock prices in general. Lower interest rates reduce borrowing costs for consumers and businesses, potentially increasing spending and investment. This environment is often favorable for growth stocks, like Rivian, as it can improve their financing conditions and reduce the discount rate applied to future earnings, making their stocks more attractive.
Lower interest rates also make it cheaper for consumers to finance large purchases, such as electric vehicles. This can boost demand for Rivian's vehicles, as more consumers are able to afford financing or leasing options due to the lower interest rates on auto loans.
Read Also: <a href="https://www.benzinga.com/news/24/07/39783196/will-electric-vehicles-reach-50-market-share-in-us-by-2030-new-data-says-yes">Will Electric Vehicles Reach 50% Market Share In US By 2030? New Data Says Yes</a>
<h2 class="wp-block-heading">How To Buy RIVN Stock</h2>
Besides going to a brokerage platform to purchase a share &#8211; or fractional share &#8211; of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument. 
For example, in Rivian Automotive&#8217;s case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, RIVN has a 52-week high of $28.06 and a 52-week low of $8.26.

RIVN

What's Going On With Rivian (RIVN) Stock?

By&nbsp;Lance Roberts
With both economic and inflation data continuing to weaken, expectations of Fed rate cuts are rising. Notably, following the latest consumer price index (CPI) report, which was weaker than expected, the odds of Fed rate cuts by September rose sharply. According to the CME, the odds of a 0.25% cut to the Fed rate are now 90%.
<img alt="CME Target Rate Probabilities By September 2024" src="https://realinvestmentadvice.com/wp-content/uploads/2024/07/target-rate-probabilitie-1024x512.png" style="height:312px; width:624px" />
Since January 2022, the market has repeatedly rallied on hopes of Fed cuts and a return to increased monetary accommodation. Yet, so far, each rally eventually failed as economic data kept the Federal Reserve on hold.
<img alt="Fed Rate Hikes and the market" src="https://realinvestmentadvice.com/wp-content/uploads/2024/07/image-21.png" style="height:275px; width:624px" />
However, as noted, the latest economic and inflation data show clear signs of weakness, which has bolstered Jerome Powell&rsquo;s comments that we are nearing the point where Fed rate cuts are warranted. To wit:
<blockquote>&ldquo;Major indexes rose as Federal Reserve Chair&nbsp;Jerome Powell&nbsp;spoke to a House committee after his first day of congressional testimony on Tuesday&nbsp;<a href="https://www.wsj.com/economy/central-banking/jerome-powell-senate-testimony-july-b7805d54?mod=article_inline">inched the Fed closer</a>&nbsp;to lowering interest rates. In his testimony this week, Powell&nbsp;<a href="https://www.wsj.com/economy/central-banking/behind-the-latest-shift-in-powells-rate-cut-framework-ba70f753?mod=article_inline">pointed to a cooling labor market</a>&nbsp;and suggested that further softening might be unwelcome.&rdquo;
</blockquote>
Following those comments, the financial markets cruised to new highs. This is unsurprising since the last decade taught investors that stocks rally when the Fed&nbsp;&ldquo;eases&rdquo;&nbsp;financial conditions. Since 2008, stocks are up more than 500% from the lows. The only exceptions to that rally were corrections when the Fed was hiking rates.
<img alt="Fed rates vs the market" src="https://realinvestmentadvice.com/wp-content/uploads/2024/07/Fed-Funds-Rate-vs-SP500-2008-Present.png" style="height:333px; width:624px" />
Given recent history, why should investors not expect a continued rally in the stock market when Fed rate cuts begin?
<h3 id="h-fed-rate-cuts-and-market-outcomes">Fed Rate Cuts And Market Outcomes</h3>
One constant from Wall Street is that&nbsp;&ldquo;buy stocks&rdquo;&nbsp;is the answer no matter what the question. Such is the case again as Fed rate cuts loom. The belief, as noted, is that rate cuts will boost the demand for equities as yields on short-term cash assets fall. However, as Michael Lebowitz pointed out previously in&nbsp;<a href="https://realinvestmentadvice.com/a-federal-reserve-pivot-is-not-bullish" rel="noreferrer noopener" target="_blank">&ldquo;Federal Reserve Pivots Are Not Bullish:&rdquo;</a>
<blockquote>&ldquo;Since 1970, there have been nine instances in which the Fed significantly cut the Fed Funds rate.&nbsp;The average maximum drawdown from the start of each rate reduction period to the market trough was 27.25%.
The three most recent episodes saw larger-than-average drawdowns. Of the six other experiences, only one, 1974-1977, saw a drawdown worse than the average.&rdquo;
</blockquote>
<img alt="Federal reserve rate cuts pivot and drawdowns." src="https://sp-ao.shortpixel.ai/client/to_auto,q_lossless,ret_img,w_624,h_419/https://realinvestmentadvice.com/wp-content/uploads/2023/03/fed-rate-cuts-and-drawdowns.png" style="height:419px; width:624px" />
Given that historical perspective, it certainly seems apparent that investors should NOT anticipate a Fed rate-cutting cycle. There are several reasons why:
<ol>
<li>Rate cuts generally coincide with the Fed working to counter a deflationary economic cycle or financial event.</li>
<li>As deflationary or financial events unfold, consumer activity contracts, which impairs corporate earnings.</li>
<li>As corporate earnings decline, markets must reprice current valuations for lower earnings.</li>
</ol>
The chart below shows corporate earnings&rsquo; deviation from long-term exponential growth trends. You will note that the earnings deviation reverts when the Fed cuts rates. Therefore, while analysts are optimistic about earnings growth going into 2025, a Fed rate-cutting cycle will likely disappoint those expectations.
<img alt="Earnings Deviation From Growth Trend vs Fed Rate Cuts" src="https://realinvestmentadvice.com/wp-content/uploads/2024/07/Earnings-Deviation-From-Growth-Trend-vs-Fed-Funds-Rate.png" style="height:377px; width:624px" />
More interestingly, the worse the economic data is, the more bullish investors have become in their search for that policy reversal. Of course, as noted, weaker economic growth and lower inflation, which would coincide with a rate-cutting cycle, do not support currently optimistic earnings estimates or valuations that remain well deviated above long-term trends.
<img alt="Valuations deviation from growth trend." src="https://realinvestmentadvice.com/wp-content/uploads/2024/07/CAPE-Valuations-Deviation-From-Trend.png" style="height:375px; width:624px" />
Of course, that valuation deviation directly resulted from more than&nbsp;<a href="https://realinvestmentadvice.com/why-future-returns-could-approach-zero/" rel="noreferrer noopener" target="_blank">$43 Trillion in monetary interventions</a>&nbsp;since 2008. The consistent support of any market decline trained investors to ignore the fundamental factors in the short term. However, as the Fed cuts rates to stave off a disinflationary or recessionary environment, the collision of economic realities with optimistic expectations has tended to turn out poorly.
<h3 id="h-time-to-buy-bonds">Time To Buy Bonds?</h3>
One asset class stands out as an opportunity for investors to shelter during a Fed rate-cutting cycle: Treasury bonds. Notably, we are discussing U.S. Government Treasury bonds and not corporate bonds. As shown, during disinflationary events, economic recessions, and credit-related events, Treasury bonds benefit from the flight to safety, while corporate bonds are liquidated to offset default risks.
<img alt="Various bond yields vs Fed rates" src="https://realinvestmentadvice.com/wp-content/uploads/2024/07/Fed-Funds-vs-Treasury-Bonds-vs-Corporates-1024x655.png" style="height:399px; width:624px" />
As stock prices fall during the valuation reversion proceeds, investors tend to look for a&nbsp;&ldquo;safe harbor&rdquo;&nbsp;to shelter capital from declining values. Historically, the 10-year Treasury bond yield&nbsp;(the inverse of bond prices)&nbsp;shows a very high correlation to Federal Reserve rate changes. That is because while the Fed controls the short end of the yield curve, the economy controls the long end. Therefore, longer-term yields respond to economic realities as the Fed cuts rates in response to a disinflationary event.
<img alt="Fed rate vs 10-year Treasury vs market" src="https://realinvestmentadvice.com/wp-content/uploads/2024/07/Fed-Funds-vs-Crisis-vs-10-Year-Yields.png" style="height:341px; width:624px" />
Could this time be different? Sure, but you are betting on a lot of historical evidence to the contrary.
While the hope is that the Fed will start dropping interest rates again, the risk skews toward stocks. As noted, the only reason for Fed rate cuts is to offset the risk of an economic recession or a financially related event. The&nbsp;&ldquo;flight to safety&rdquo;&nbsp;will cause a rate decline in such an event. The previous rise in rates equated to a 50% reduction in bond prices. Therefore, a similar rate reversion could increase bond prices by as much as 70% from current yields.
<img alt="Bond Yields vs Prices " src="https://realinvestmentadvice.com/wp-content/uploads/2024/07/image-22.png" style="height:276px; width:624px" />
In other words, the most hated asset class of the last two years may perform much better than stocks when the Fed cuts rates.
Therefore, as we approach the first Fed rate cut in September, it may be time to consider reducing equity risk and increasing exposure to Treasury bonds.
Lance Roberts is a Chief Portfolio Strategist/Economist for&nbsp;<a href="https://realinvestmentadvice.com/investing/" target="_blank">RIA Advisors</a>. He is also the host of &ldquo;<a href="https://realinvestmentadvice.com/podcasts/" target="_blank">The Lance Roberts Podcast</a>&rdquo; and Chief Editor of the &ldquo;<a href="https://realinvestmentadvice.com/" target="_blank">Real Investment Advice</a>&rdquo; website and author of &ldquo;<a href="https://realinvestmentadvice.com/real-investment-daily/" target="_blank">Real Investment Daily</a>&rdquo; blog and &ldquo;Real Investment Report&ldquo;. Follow Lance on&nbsp;<a href="https://www.facebook.com/RealInvestmentAdvice/" target="_blank">Facebook</a>,&nbsp;<a href="https://twitter.com/LanceRoberts" target="_blank">Twitter</a>,&nbsp;<a href="https://www.linkedin.com/in/realinvestmentadvice/" target="_blank">Linked-In</a>&nbsp;and&nbsp;<a href="https://www.youtube.com/channel/UCXVMMgEidXlrTM1coedg70A" target="_blank">YouTube</a>

Economics

Federal Reserve

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Tyson Foods Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>) chief financial officer John R. Tyson, who was suspended <a target="_blank" href="https://www.benzinga.com/news/24/06/39320709/tyson-foods-cfo-great-grandson-of-founder-suspended-after-second-arrest-corrected" rel="noreferrer noopener">after his June arrest</a> on charges including driving while intoxicated and careless driving, had pleaded not guilty on Monday.
Tyson, who is the son of the company's chairman and the great-grandson of the meat giant's founder, was arrested on June 13 by University of Arkansas police and booked at the Washington County Detention Center.
Tyson's not-guilty plea allowed him more time to negotiate a settlement with prosecutors, as reported <a target="_blank" href="https://www.wsj.com/business/c-suite/tyson-foods-cfo-pleads-not-guilty-after-drunken-driving-arrest-070eddad?mod=lead_feature_below_a_pos1" rel="noreferrer noopener">by the Wall Street Journal</a>.
His trial is scheduled for August 28 in Fayetteville District Court. This arrest follows a previous incident in November 2022, where Tyson was found asleep in a stranger's bed near the University of Arkansas.
He initially pleaded not guilty but later changed his plea to guilty and paid a $440 fine, WSJ reports.
Tyson Foods' board of directors reviewed Tyson's November 2022 arrest and expressed confidence in his role as CFO. However, following his recent suspension, Curt Calaway, a longtime company finance executive, is serving as interim CFO.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39705369/tyson-foods-divests-georgia-plant-in-profitability-push" rel="noreferrer noopener">Tyson Foods Divests Georgia Plant In Profitability Push</a>
Tyson has been the CFO since October 2022, becoming the youngest CFO of a Fortune 500 company at the time of his appointment.
The June arrest occurred when University of Arkansas police observed Tyson's SUV exceeding the speed limit, striking a curb, and making an improper turn.
Authorities reported that Tyson smelled of intoxicants, and his blood alcohol level tested at 0.191, more than twice the legal limit of 0.08, the WSJ writes.
Tyson Foods, the largest U.S. meat processor by sales.
Price Action: TSN shares are trading higher by 1.98% at $58.61 at last check Tuesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/07/39594565/tyson-reduces-antibiotic-free-beef-options-as-costs-rise-report" target="_blank" rel="noreferrer noopener">Tyson Reduces Antibiotic-Free Beef Options As Costs Rise: Report</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

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Management

Tyson Foods CFO Pleads Not Guilty On Driving While Intoxicated Charges: WSJ

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Initiation

JAKK

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