Investors with significant funds have taken a bullish position in SL Green Realty SLG, a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in SLG usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 8 options transactions for SL Green Realty. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 50% being bullish and 25% bearish. Of all the options we discovered, 7 are puts, valued at $1,507,869, and there was a single call, worth $29,449.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $50.0 to $57.5 for SL Green Realty over the last 3 months.
Insights into Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for SL Green Realty'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 SL Green Realty's whale activity within a strike price range from $50.0 to $57.5 in the last 30 days.
SL Green Realty Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SLG | PUT | TRADE | NEUTRAL | 06/21/24 | $2.9 | $2.8 | $2.85 | $55.00 | $1.2M | 5.9K | 4.3K |
| SLG | PUT | SWEEP | BEARISH | 09/20/24 | $5.0 | $4.9 | $4.97 | $52.50 | $120.6K | 2 | 4.8K |
| SLG | PUT | SWEEP | BULLISH | 06/21/24 | $3.0 | $2.85 | $2.9 | $55.00 | $46.9K | 5.9K | 7.5K |
| SLG | PUT | TRADE | BULLISH | 01/16/26 | $13.5 | $13.0 | $13.1 | $55.00 | $32.7K | 20 | 25 |
| SLG | CALL | SWEEP | BEARISH | 06/21/24 | $0.7 | $0.6 | $0.6 | $57.50 | $29.4K | 5.0K | 817 |
About SL Green Realty
SL Green Realty is one of the largest Manhattan property owners and landlords, with interest in around 33 million square feet of wholly owned and joint-venture office space. The company has additional property exposure through its limited portfolio of well-located retail space. It operates as a real estate investment trust.
Following our analysis of the options activities associated with SL Green Realty, we pivot to a closer look at the company's own performance.
SL Green Realty's Current Market Status
- With a trading volume of 729,152, the price of SLG is up by 0.75%, reaching $53.43.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 43 days from now.
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 SL Green Realty, 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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