Deep-pocketed investors have adopted a bearish approach towards Futu Hldgs FUTU, 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 FUTU usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Futu Hldgs. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 25% leaning bullish and 75% bearish. Among these notable options, 2 are puts, totaling $162,270, and 6 are calls, amounting to $225,443.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $40.0 and $69.0 for Futu Hldgs, spanning the last three months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Futu Hldgs'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 Futu Hldgs's whale trades within a strike price range from $40.0 to $69.0 in the last 30 days.
Futu Hldgs Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| FUTU | PUT | SWEEP | BEARISH | 11/15/24 | $1.81 | $1.59 | $1.6 | $40.00 | $135.3K | 115 | 846 |
| FUTU | CALL | SWEEP | BEARISH | 05/17/24 | $5.55 | $5.5 | $5.51 | $55.00 | $55.0K | 459 | 173 |
| FUTU | CALL | SWEEP | BEARISH | 05/17/24 | $5.5 | $5.4 | $5.4 | $55.00 | $40.5K | 459 | 293 |
| FUTU | CALL | SWEEP | BEARISH | 05/17/24 | $5.4 | $5.3 | $5.35 | $55.00 | $39.5K | 459 | 293 |
| FUTU | CALL | TRADE | BEARISH | 04/12/24 | $5.0 | $4.55 | $4.72 | $54.00 | $33.0K | 97 | 74 |
About Futu Hldgs
Futu Holdings Ltd is an online broker providing one-stop online investing services. The company provides its services through its digital platform Futu NiuNiu, which includes market data, trading service, and news feed of Hong Kong, Mainland China, Singapore, and United States equity markets. It generates its revenue in the form of brokerage commission and handling charge services.
After a thorough review of the options trading surrounding Futu Hldgs, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Futu Hldgs
- Trading volume stands at 410,174, with FUTU's price down by -3.03%, positioned at $58.23.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 40 days.
What Analysts Are Saying About Futu Hldgs
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $67.43333333333334.
- In a cautious move, an analyst from JP Morgan downgraded its rating to Neutral, setting a price target of $62.
- An analyst from CLSA has elevated its stance to Outperform, setting a new price target at $65.
- Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Futu Hldgs, targeting a price of $75.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Futu Hldgs with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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