Looking At Inspire Medical Systems's Recent Unusual Options Activity

Someone with a lot of money to spend has taken a bearish stance on Inspire Medical Systems INSP.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with INSP, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 11 uncommon options trades for Inspire Medical Systems.

This isn't normal.

The overall sentiment of these big-money traders is split between 36% bullish and 63%, bearish.

Out of all of the special options we uncovered, 8 are puts, for a total amount of $444,438, and 3 are calls, for a total amount of $446,500.

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 $130.0 to $320.0 for Inspire Medical Systems over the last 3 months.

Volume & Open Interest Development

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 Inspire Medical Systems'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 Inspire Medical Systems's whale activity within a strike price range from $130.0 to $320.0 in the last 30 days.

Inspire Medical Systems Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Where Is Inspire Medical Systems Standing Right Now?

• With a volume of 449,732, the price of INSP is up 4.23% at $193.25.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 1 days.

What The Experts Say On Inspire Medical Systems:

• Truist Securities has decided to maintain their Buy rating on Inspire Medical Systems, which currently sits at a price target of $240.

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 Inspire Medical Systems, Benzinga Pro gives you real-time options trades alerts.