Check Out What Whales Are Doing With ENPH

Someone with a lot of money to spend has taken a bearish stance on Enphase Energy ENPH.

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 ENPH, 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 18 uncommon options trades for Enphase Energy.

This isn't normal.

The overall sentiment of these big-money traders is split between 38% bullish and 61%, bearish.

Out of all of the special options we uncovered, 10 are puts, for a total amount of $404,890, and 8 are calls, for a total amount of $269,834.

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 $165.0 to $300.0 for Enphase Energy over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Enphase Energy options trades today is 645.44 with a total volume of 3,355.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Enphase Energy's big money trades within a strike price range of $165.0 to $300.0 over the last 30 days.

Enphase Energy Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
ENPH PUT TRADE BEARISH 05/19/23 $170.00 $90.0K 550 0
ENPH PUT TRADE BEARISH 06/21/24 $200.00 $48.0K 0 20
ENPH PUT TRADE BULLISH 01/19/24 $175.00 $44.6K 1.3K 116
ENPH CALL TRADE BEARISH 09/15/23 $240.00 $44.2K 378 68
ENPH PUT SWEEP BULLISH 06/21/24 $200.00 $39.0K 0 9

Where Is Enphase Energy Standing Right Now?

  • With a volume of 1,094,500, the price of ENPH is up 1.59% at $194.03.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 15 days.

What The Experts Say On Enphase Energy:

  • Morgan Stanley downgraded its action to Equal-Weight with a price target of $268
  • Raymond James upgraded its action to Outperform with a price target of $225
  • Goldman Sachs has decided to maintain their Buy rating on Enphase Energy, which currently sits at a price target of $295.
  • Susquehanna upgraded its action to Positive with a price target of $275

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 Enphase Energy, Benzinga Pro gives you real-time options trades alerts.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date of Trade
▲▼
ticker
▲▼
Put/Call
▲▼
Strike Price
▲▼
DTE
▲▼
Sentiment
▲▼
Posted In: OptionsMarketsBZI-UOA
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!