Someone with a lot of money to spend has taken a bearish stance on Charter Communications CHTR.
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 CHTR, 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 16 uncommon options trades for Charter Communications.
This isn't normal.
The overall sentiment of these big-money traders is split between 43% bullish and 56%, bearish.
Out of all of the special options we uncovered, 9 are puts, for a total amount of $595,044, and 7 are calls, for a total amount of $511,360.
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 $340.0 to $540.0 for Charter Communications 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 Charter Communications'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 Charter Communications's whale trades within a strike price range from $340.0 to $540.0 in the last 30 days.
Charter Communications 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 |
|---|---|---|---|---|---|---|---|---|
| CHTR | PUT | TRADE | BULLISH | 01/17/25 | $370.00 | $152.0K | 150 | 0 |
| CHTR | CALL | SWEEP | BEARISH | 11/03/23 | $420.00 | $136.0K | 316 | 185 |
| CHTR | CALL | SWEEP | BULLISH | 06/21/24 | $540.00 | $108.1K | 23 | 261 |
| CHTR | PUT | TRADE | NEUTRAL | 10/27/23 | $410.00 | $89.8K | 327 | 125 |
| CHTR | PUT | SWEEP | BULLISH | 06/21/24 | $350.00 | $87.5K | 55 | 50 |
Where Is Charter Communications Standing Right Now?
- With a volume of 949,922, the price of CHTR is down -4.36% at $405.26.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 1 days.
What The Experts Say On Charter Communications:
- Bernstein downgraded its action to Market Perform with a price target of $463
- Morgan Stanley has decided to maintain their Equal-Weight rating on Charter Communications, which currently sits at a price target of $500.
- Benchmark has decided to maintain their Buy rating on Charter Communications, which currently sits at a price target of $600.
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 Charter Communications, 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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