Someone with a lot of money to spend has taken a bearish stance on Truist Finl TFC.
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 TFC, 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 13 uncommon options trades for Truist Finl.
This isn't normal.
The overall sentiment of these big-money traders is split between 30% bullish and 69%, bearish.
Out of all of the special options we uncovered, 9 are puts, for a total amount of $383,968, and 4 are calls, for a total amount of $259,760.
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 $27.5 to $38.0 for Truist Finl over the last 3 months.
Volume & Open Interest Development
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 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 trades within a strike price range from $27.5 to $38.0 in the last 30 days.
Truist Finl 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 |
|---|---|---|---|---|---|---|---|---|
| TFC | CALL | SWEEP | BEARISH | 01/19/24 | $35.00 | $126.0K | 833 | 298 |
| TFC | PUT | SWEEP | BULLISH | 05/19/23 | $32.50 | $89.0K | 496 | 269 |
| TFC | PUT | SWEEP | BULLISH | 03/24/23 | $34.00 | $59.7K | 2.2K | 1.8K |
| TFC | PUT | SWEEP | NEUTRAL | 09/15/23 | $27.50 | $56.0K | 1.1K | 0 |
| TFC | CALL | TRADE | BEARISH | 04/21/23 | $38.00 | $50.3K | 363 | 691 |
Where Is Truist Finl Standing Right Now?
- With a volume of 11,901,044, the price of TFC is up 1.57% at $33.08.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 27 days.
What The Experts Say On Truist Finl:
- RBC Capital has decided to maintain their Outperform rating on Truist Finl, which currently sits at a price target of $54.
- Keefe, Bruyette & Woods upgraded its action to Market Perform with a price target of $45
- Baird upgraded its action to Outperform with a price target of $53
- Citigroup upgraded its action to Buy with a price target of $52
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 Truist Finl, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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