Someone with a lot of money to spend has taken a bearish stance on Costco Wholesale COST.
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 COST, 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 10 uncommon options trades for Costco Wholesale.
This isn't normal.
The overall sentiment of these big-money traders is split between 30% bullish and 70%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $168,744, and 5 are calls, for a total amount of $171,425.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $300.0 and $620.0 for Costco Wholesale, spanning the last three months.
Volume & Open Interest Trends
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Costco Wholesale's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Costco Wholesale's substantial trades, within a strike price spectrum from $300.0 to $620.0 over the preceding 30 days.
Costco Wholesale Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| COST | PUT | TRADE | BEARISH | 04/19/24 | $530.00 | $52.0K | 142 | 2 |
| COST | CALL | TRADE | BEARISH | 01/19/24 | $530.00 | $51.3K | 336 | 0 |
| COST | PUT | TRADE | BEARISH | 04/19/24 | $560.00 | $33.4K | 94 | 0 |
| COST | CALL | SWEEP | BEARISH | 11/10/23 | $565.00 | $33.0K | 782 | 150 |
| COST | CALL | TRADE | BULLISH | 04/19/24 | $600.00 | $30.4K | 214 | 18 |
Current Position of Costco Wholesale
- Currently trading with a volume of 453,456, the COST's price has down by -1.11%, now at $564.9. RSI readings suggest the stock is currently is currently neutral between overbought and oversold. Anticipated earnings release is in 29 days.
What The Experts Say On Costco Wholesale:
- Telsey Advisory Group has revised its rating downward to Outperform, adjusting the price target to $600.
- Telsey Advisory Group downgraded its action to Outperform with a price target of $600.
- Consistent in their evaluation, JP Morgan keeps a Overweight rating on Costco Wholesale with a target price of $605.
- Telsey Advisory Group has revised its rating downward to Outperform, adjusting the price target to $600.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Costco Wholesale options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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