High-rolling investors have positioned themselves bullish on Nuvei NVEI, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in NVEI often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 14 options trades for Nuvei. This is not a typical pattern.
The sentiment among these major traders is split, with 64% bullish and 35% bearish. Among all the options we identified, there was one put, amounting to $38,520, and 13 calls, totaling $1,119,738.
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 $27.5 to $30.0 for Nuvei over the last 3 months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Nuvei'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 Nuvei's whale activity within a strike price range from $27.5 to $30.0 in the last 30 days.
Nuvei 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 |
|---|---|---|---|---|---|---|---|---|
| NVEI | CALL | SWEEP | BULLISH | 04/19/24 | $27.50 | $286.8K | 1.2K | 1.9K |
| NVEI | CALL | TRADE | BULLISH | 04/19/24 | $27.50 | $203.7K | 1.2K | 2.5K |
| NVEI | CALL | SWEEP | BEARISH | 04/19/24 | $27.50 | $109.5K | 1.2K | 3.2K |
| NVEI | CALL | SWEEP | BULLISH | 04/19/24 | $30.00 | $104.2K | 3.4K | 940 |
| NVEI | CALL | SWEEP | BULLISH | 04/19/24 | $30.00 | $93.4K | 3.4K | 1.4K |
About Nuvei
Nuvei Corp is a provider of payment technology solutions to merchants and partners. The solutions provided are mobile payments, online payments, and In-store payments. Its geographical segments are North America; Europe, the Middle East, and Africa; Latin America; and the Asia Pacific. The vast majority of the company's revenue is generated from North America and EMEA.
In light of the recent options history for Nuvei, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Nuvei
- With a volume of 760,347, the price of NVEI is up 3.28% at $29.73.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 43 days.
What The Experts Say On Nuvei
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $33.0.
- An analyst from UBS persists with their Buy rating on Nuvei, maintaining a target price of $30.
- An analyst from Barclays has decided to maintain their Overweight rating on Nuvei, which currently sits at a price target of $32.
- Consistent in their evaluation, an analyst from RBC Capital keeps a Outperform rating on Nuvei with a target price of $34.
- An analyst from Canaccord Genuity downgraded its action to Buy with a price target of $40.
- Consistent in their evaluation, an analyst from Seaport Global keeps a Buy rating on Nuvei with a target price of $29.
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 Nuvei 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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