Investors with a lot of money to spend have taken a bearish stance on Western Alliance WAL.
And retail traders should know.
We noticed this today when the trades 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 WAL, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 11 options trades for Western Alliance.
This isn't normal.
The overall sentiment of these big-money traders is split between 45% bullish and 54%, bearish.
Out of all of the options we uncovered, 10 are puts, for a total amount of $409,504, and there was 1 call, for a total amount of $285,196.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $40.0 to $59.0 for Western Alliance over the recent 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 Western Alliance's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Western Alliance's substantial trades, within a strike price spectrum from $40.0 to $59.0 over the preceding 30 days.
Western Alliance 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| WAL | CALL | SWEEP | BULLISH | 01/17/25 | $50.00 | $285.1K | 376 | 0 |
| WAL | PUT | SWEEP | BEARISH | 03/15/24 | $50.00 | $72.6K | 612 | 219 |
| WAL | PUT | SWEEP | NEUTRAL | 02/09/24 | $59.00 | $51.1K | 545 | 301 |
| WAL | PUT | TRADE | BEARISH | 03/22/24 | $58.00 | $41.2K | 23 | 80 |
| WAL | PUT | TRADE | NEUTRAL | 06/21/24 | $57.50 | $40.9K | 132 | 66 |
About Western Alliance
Western Alliance Bancorporation is a Las Vegas-based holding company with regional banks operating in Nevada, Arizona, and California. The bank offers retail banking services and focuses on mortgages for retail customers and commercial loans, mainly for real estate. The bank also has an investment advisory business that manages investment portfolios for Western clients and clients of other banks.
After a thorough review of the options trading surrounding Western Alliance, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Western Alliance
- With a trading volume of 1,248,252, the price of WAL is up by 0.1%, reaching $58.0.
- Current RSI values indicate that the stock is may be approaching oversold.
- Next earnings report is scheduled for 69 days from now.
What The Experts Say On Western Alliance
3 market experts have recently issued ratings for this stock, with a consensus target price of $77.33333333333333.
- Consistent in their evaluation, an analyst from RBC Capital keeps a Outperform rating on Western Alliance with a target price of $78.
- Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on Western Alliance with a target price of $82.
- An analyst from Wells Fargo downgraded its action to Equal-Weight with a price target of $72.
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 Western Alliance 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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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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