Whales with a lot of money to spend have taken a noticeably bullish stance on Canopy Gwth.
Looking at options history for Canopy Gwth CGC we detected 61 trades.
If we consider the specifics of each trade, it is accurate to state that 60% of the investors opened trades with bullish expectations and 34% with bearish.
From the overall spotted trades, 31 are puts, for a total amount of $2,249,763 and 30, calls, for a total amount of $1,985,948.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $5.0 and $21.0 for Canopy Gwth, spanning the last three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Canopy Gwth stands at 1779.59, with a total volume reaching 60,434.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Canopy Gwth, situated within the strike price corridor from $5.0 to $21.0, throughout the last 30 days.
Canopy Gwth 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CGC | CALL | TRADE | BULLISH | 07/19/24 | $5.5 | $4.9 | $5.5 | $5.00 | $275.0K | 2.3K | 3.1K |
| CGC | CALL | TRADE | BULLISH | 06/21/24 | $3.85 | $3.65 | $3.85 | $7.00 | $184.8K | 878 | 2.5K |
| CGC | CALL | TRADE | BULLISH | 07/19/24 | $0.91 | $0.66 | $0.89 | $9.00 | $160.2K | 656 | 2.0K |
| CGC | PUT | TRADE | BULLISH | 07/19/24 | $14.65 | $13.0 | $13.0 | $21.00 | $130.0K | 6 | 202 |
| CGC | PUT | TRADE | NEUTRAL | 07/19/24 | $14.15 | $12.2 | $13.0 | $21.00 | $130.0K | 6 | 102 |
About Canopy Gwth
Canopy Growth, headquartered in Smiths Falls, Canada, cultivates and sells medicinal and recreational cannabis, and hemp, through a portfolio of brands that include Doja, 7ACRES, Tweed, and Deep Space. Its non-THC products include skincare products under Martha Stewart CBD and Storz & Bickel vaporizers. Canopy growth is attempting to merge its U.S. assets into a separately operated holding company, Canopy USA, which will not be consolidated into the Canadian company's financials.
In light of the recent options history for Canopy Gwth, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Canopy Gwth's Current Market Status
- With a volume of 27,480,043, the price of CGC is up 36.06% at $11.32.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 51 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 Canopy Gwth 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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