Someone with a lot of money to spend has taken a bearish stance on Charles Schwab SCHW.
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 SCHW, 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 81 uncommon options trades for Charles Schwab.
This isn't normal.
The overall sentiment of these big-money traders is split between 44% bullish and 55%, bearish.
Out of all of the special options we uncovered, 38 are puts, for a total amount of $2,684,960, and 43 are calls, for a total amount of $2,494,112.
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 $90.0 for Charles Schwab over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Charles Schwab options trades today is 1898.84 with a total volume of 87,784.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Charles Schwab's big money trades within a strike price range of $30.0 to $90.0 over the last 30 days.
Charles Schwab Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SCHW | PUT | SWEEP | BEARISH | 04/21/23 | $57.50 | $299.6K | 96 | 1.1K |
| SCHW | CALL | SWEEP | BULLISH | 09/15/23 | $50.00 | $186.0K | 427 | 607 |
| SCHW | PUT | SWEEP | BULLISH | 03/17/23 | $60.00 | $165.9K | 18.4K | 1.0K |
| SCHW | PUT | SWEEP | BULLISH | 03/17/23 | $60.00 | $160.0K | 18.4K | 1.7K |
| SCHW | PUT | SWEEP | BULLISH | 03/17/23 | $60.00 | $111.5K | 18.4K | 2.7K |
Where Is Charles Schwab Standing Right Now?
- With a volume of 76,991,842, the price of SCHW is up 11.88% at $58.08.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 34 days.
What The Experts Say On Charles Schwab:
- JP Morgan has decided to maintain their Overweight rating on Charles Schwab, which currently sits at a price target of $97.
- Citigroup upgraded its action to Buy with a price target of $75
- Piper Sandler has decided to maintain their Overweight rating on Charles Schwab, which currently sits at a price target of $95.
- Deutsche Bank has decided to maintain their Buy rating on Charles Schwab, which currently sits at a price target of $83.
- Goldman Sachs has decided to maintain their Buy rating on Charles Schwab, which currently sits at a price target of $75.
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 Charles Schwab, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
