Investors with a lot of money to spend have taken a bullish stance on WESCO Intl WCC.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with WCC, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 8 uncommon options trades for WESCO Intl.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 37%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $95,633, and 6 are calls, for a total amount of $388,120.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $120.0 to $170.0 for WESCO Intl over the recent three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for WESCO Intl options trades today is 628.8 with a total volume of 1,793.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for WESCO Intl's big money trades within a strike price range of $120.0 to $170.0 over the last 30 days.
WESCO Intl 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WCC | CALL | SWEEP | BULLISH | 05/17/24 | $7.2 | $7.1 | $7.2 | $160.00 | $130.3K | 630 | 0 |
| WCC | CALL | TRADE | BULLISH | 05/17/24 | $4.1 | $3.8 | $4.0 | $170.00 | $80.0K | 2.2K | 249 |
| WCC | CALL | SWEEP | BEARISH | 05/17/24 | $4.0 | $3.9 | $3.9 | $170.00 | $63.9K | 2.2K | 203 |
| WCC | PUT | SWEEP | BEARISH | 06/21/24 | $9.2 | $8.8 | $9.1 | $155.00 | $58.2K | 84 | 67 |
| WCC | CALL | TRADE | BULLISH | 10/18/24 | $42.5 | $41.1 | $42.5 | $120.00 | $42.5K | 13 | 0 |
About WESCO Intl
Wesco International is an industrial distributor that has three reportable segments, electrical and electronic solutions, communications and security solutions, and utility and broadband solutions. The company offers more than 1.5 million products to its 140,000 active customers through a distribution network of 800 branches, warehouses, and sales offices, including 43 distribution centers. Wesco generates approximately 74% of its sales in the United States, but it has a global reach, with operations in 50 other countries.
Having examined the options trading patterns of WESCO Intl, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of WESCO Intl
- Currently trading with a volume of 779,422, the WCC's price is up by 1.08%, now at $154.4.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 1 days.
Expert Opinions on WESCO Intl
1 market experts have recently issued ratings for this stock, with a consensus target price of $190.0.
- Maintaining their stance, an analyst from Keybanc continues to hold a Overweight rating for WESCO Intl, targeting a price of $190.
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 WESCO Intl, 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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