Whales with a lot of money to spend have taken a noticeably bearish stance on Chewy.
Looking at options history for Chewy CHWY we detected 9 trades.
If we consider the specifics of each trade, it is accurate to state that 0% of the investors opened trades with bullish expectations and 100% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $64,896 and 7, calls, for a total amount of $413,674.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $2.5 to $27.5 for Chewy during the past quarter.
Analyzing Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Chewy's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Chewy's significant trades, within a strike price range of $2.5 to $27.5, over the past month.
Chewy Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CHWY | CALL | SWEEP | NEUTRAL | 01/17/25 | $2.05 | $1.88 | $2.02 | $22.50 | $198.7K | 2.6K | 1.0K |
| CHWY | CALL | SWEEP | BEARISH | 05/17/24 | $0.72 | $0.66 | $0.72 | $17.50 | $61.4K | 2.4K | 856 |
| CHWY | CALL | TRADE | BEARISH | 01/17/25 | $4.45 | $4.4 | $4.42 | $15.00 | $44.2K | 1.4K | 28 |
| CHWY | PUT | SWEEP | BEARISH | 04/19/24 | $3.5 | $3.4 | $3.46 | $20.00 | $34.6K | 5.2K | 110 |
| CHWY | PUT | SWEEP | NEUTRAL | 07/19/24 | $10.9 | $10.75 | $10.82 | $27.50 | $30.2K | 552 | 29 |
About Chewy
Chewy is the largest e-commerce pet care retailer in the US, generating $11.2 billion in 2023 sales across pet food, treats, hard goods, and pharmacy categories. The firm was founded in 2011, acquired by PetSmart in 2017, and tapped public markets as a stand-alone company in 2019 after spending a couple of years developing under the aegis of the pet superstore chain. The firm generates sales from pet food, treats, over-the-counter medications, medical prescription fulfillment, and hard goods, like crates, leashes, and bowls.
Where Is Chewy Standing Right Now?
- Trading volume stands at 10,035,801, with CHWY's price up by 3.87%, positioned at $16.38.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 55 days.
What Analysts Are Saying About Chewy
In the last month, 5 experts released ratings on this stock with an average target price of $23.8.
- In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $25.
- Maintaining their stance, an analyst from Goldman Sachs continues to hold a Buy rating for Chewy, targeting a price of $32.
- An analyst from JP Morgan persists with their Overweight rating on Chewy, maintaining a target price of $22.
- Maintaining their stance, an analyst from RBC Capital continues to hold a Outperform rating for Chewy, targeting a price of $22.
- An analyst from Mizuho downgraded its action to Neutral with a price target of $18.
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 Chewy, 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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