Deep-pocketed investors have adopted a bullish approach towards Corteva CTVA, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in CTVA usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for Corteva. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 50% leaning bullish and 50% bearish. Among these notable options, 2 are puts, totaling $87,120, and 8 are calls, amounting to $515,244.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $45.0 to $60.0 for Corteva over the recent three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Corteva stands at 1464.67, with a total volume reaching 6,952.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Corteva, situated within the strike price corridor from $45.0 to $60.0, throughout the last 30 days.
Corteva Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CTVA | CALL | TRADE | NEUTRAL | 01/19/24 | $50.00 | $130.0K | 948 | 3.0K |
| CTVA | CALL | SWEEP | BEARISH | 01/19/24 | $47.00 | $122.1K | 4.6K | 936 |
| CTVA | CALL | SWEEP | BULLISH | 01/19/24 | $45.00 | $64.0K | 1.6K | 17 |
| CTVA | CALL | SWEEP | BULLISH | 01/19/24 | $50.00 | $52.8K | 948 | 962 |
| CTVA | PUT | SWEEP | BEARISH | 01/19/24 | $60.00 | $48.2K | 2 | 0 |
About Corteva
Corteva is an agriculture pure play that was formed in 2019 when it was spun off from DowDuPont. The company is a leader in the development of new seed and crop chemicals products. Seeds and crop protection chemicals each make up around half of profits. Although Corteva operates globally, around half of revenue comes from North America.
Following our analysis of the options activities associated with Corteva, we pivot to a closer look at the company's own performance.
Where Is Corteva Standing Right Now?
- With a volume of 2,713,963, the price of CTVA is up 0.92% at $45.96.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 48 days.
What Analysts Are Saying About Corteva
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $57.5.
- An analyst from Berenberg downgraded its action to Hold with a price target of $52.
- An analyst from Roth MKM persists with their Buy rating on Corteva, maintaining a target price of $63.
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 Corteva 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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