Deep-pocketed investors have adopted a bearish approach towards Upstart Hldgs UPST, 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 UPST usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for Upstart Hldgs. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 9% leaning bullish and 90% bearish. Among these notable options, 6 are puts, totaling $180,044, and 5 are calls, amounting to $187,435.
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 $23.0 to $100.0 for Upstart Hldgs over the last 3 months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Upstart Hldgs stands at 2757.38, with a total volume reaching 5,419.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Upstart Hldgs, situated within the strike price corridor from $23.0 to $100.0, throughout the last 30 days.
Upstart Hldgs 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 |
|---|---|---|---|---|---|---|---|---|
| UPST | CALL | SWEEP | BEARISH | 03/28/24 | $25.00 | $43.4K | 31 | 346 |
| UPST | CALL | SWEEP | BEARISH | 03/28/24 | $25.00 | $42.0K | 31 | 205 |
| UPST | CALL | SWEEP | BEARISH | 03/01/24 | $25.00 | $38.4K | 98 | 500 |
| UPST | CALL | SWEEP | BEARISH | 03/01/24 | $25.00 | $36.6K | 98 | 298 |
| UPST | PUT | SWEEP | BEARISH | 02/23/24 | $25.00 | $32.3K | 1.8K | 889 |
About Upstart Hldgs
Upstart Holdings Inc provides credit services. The company provides a proprietary, cloud-based, artificial intelligence lending platform. The platform aggregates consumer demand for loans and connects it to the network of Upstart AI-enabled bank partners. The revenue of the company comprised of fees paid by banks.
After a thorough review of the options trading surrounding Upstart Hldgs, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Upstart Hldgs
- Currently trading with a volume of 2,935,484, the UPST's price is down by -2.75%, now at $25.47.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 77 days.
Expert Opinions on Upstart Hldgs
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $26.0.
- Maintaining their stance, an analyst from JP Morgan continues to hold a Underweight rating for Upstart Hldgs, targeting a price of $24.
- Consistent in their evaluation, an analyst from Piper Sandler keeps a Neutral rating on Upstart Hldgs with a target price of $28.
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 Upstart Hldgs, 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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