Financial giants have made a conspicuous bullish move on Watsco. Our analysis of options history for Watsco WSO revealed 13 unusual trades.
Delving into the details, we found 61% of traders were bullish, while 38% showed bearish tendencies. Out of all the trades we spotted, 10 were puts, with a value of $849,693, and 3 were calls, valued at $165,280.
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 $350.0 to $420.0 for Watsco over the last 3 months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Watsco stands at 121.75, with a total volume reaching 1,059.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Watsco, situated within the strike price corridor from $350.0 to $420.0, throughout the last 30 days.
Watsco Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WSO | PUT | TRADE | BEARISH | 05/17/24 | $19.6 | $17.2 | $19.6 | $410.00 | $174.4K | 388 | 130 |
| WSO | PUT | SWEEP | BULLISH | 05/17/24 | $20.0 | $18.5 | $18.5 | $420.00 | $120.2K | 70 | 65 |
| WSO | PUT | SWEEP | BULLISH | 05/17/24 | $21.0 | $20.3 | $20.3 | $420.00 | $115.7K | 70 | 242 |
| WSO | PUT | SWEEP | BULLISH | 05/17/24 | $20.9 | $19.8 | $19.8 | $420.00 | $108.9K | 70 | 180 |
| WSO | PUT | SWEEP | BULLISH | 05/17/24 | $20.3 | $17.5 | $19.0 | $410.00 | $100.7K | 388 | 62 |
About Watsco
Watsco is the largest heating, ventilation, air conditioning, and refrigeration products distributor in North America. The company primarily operates in the United States (91% of 2022 revenue) with significant exposure in the Sunbelt states. Watsco also has operations in Canada (5% of sales) and Latin America and the Caribbean (4% of sales). The company's customer base consists of more than 120,000 dealers and contractors that serve the replacement and new construction HVACR markets for residential and light commercial applications.
Having examined the options trading patterns of Watsco, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is Watsco Standing Right Now?
- Currently trading with a volume of 153,211, the WSO's price is down by 0.0%, now at $423.34.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 13 days.
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 Watsco 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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