A whale with a lot of money to spend has taken a noticeably bearish stance on Align Tech.
Looking at options history for Align Tech ALGN we detected 16 strange trades.
If we consider the specifics of each trade, it is accurate to state that 37% of the investors opened trades with bullish expectations and 62% with bearish.
From the overall spotted trades, 11 are puts, for a total amount of $493,470 and 5, calls, for a total amount of $194,470.
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 $260.0 to $450.0 for Align Tech 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 Align Tech'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 Align Tech's whale trades within a strike price range from $260.0 to $450.0 in the last 30 days.
Align Tech 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 |
|---|---|---|---|---|---|---|---|---|
| ALGN | PUT | TRADE | BULLISH | 07/21/23 | $280.00 | $99.4K | 58 | 139 |
| ALGN | PUT | TRADE | BEARISH | 07/21/23 | $260.00 | $65.0K | 115 | 100 |
| ALGN | PUT | TRADE | BULLISH | 05/19/23 | $290.00 | $60.0K | 65 | 251 |
| ALGN | CALL | TRADE | NEUTRAL | 01/19/24 | $450.00 | $53.8K | 90 | 23 |
| ALGN | PUT | TRADE | BULLISH | 04/28/23 | $340.00 | $48.0K | 0 | 60 |
Where Is Align Tech Standing Right Now?
- With a volume of 897,667, the price of ALGN is up 2.52% at $339.0.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 15 days.
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 Align Tech, 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.
