Deep-pocketed investors have adopted a bearish approach towards Enphase Energy ENPH, 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 ENPH usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 27 extraordinary options activities for Enphase Energy. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 22% leaning bullish and 40% bearish. Among these notable options, 20 are puts, totaling $1,457,603, and 7 are calls, amounting to $400,715.
Predicted Price Range
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 $160.0 for Enphase Energy over the last 3 months.
Volume & Open Interest Trends
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 Enphase Energy'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 Enphase Energy's whale activity within a strike price range from $50.0 to $160.0 in the last 30 days.
Enphase Energy 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ENPH | PUT | SWEEP | BEARISH | 09/20/24 | $53.0 | $52.6 | $52.6 | $160.00 | $263.0K | 61 | 1 |
| ENPH | PUT | SWEEP | NEUTRAL | 08/16/24 | $15.05 | $14.9 | $15.0 | $115.00 | $146.8K | 2.9K | 6 |
| ENPH | PUT | SWEEP | BEARISH | 08/16/24 | $15.2 | $15.05 | $15.14 | $115.00 | $87.8K | 2.9K | 1.2K |
| ENPH | CALL | TRADE | BEARISH | 09/20/24 | $8.75 | $8.65 | $8.65 | $120.00 | $86.5K | 561 | 6 |
| ENPH | PUT | TRADE | NEUTRAL | 07/12/24 | $39.1 | $35.65 | $37.38 | $144.00 | $85.9K | 0 | 10 |
About Enphase Energy
Enphase Energy is a global energy technology company. The company delivers smart, easy-to-use solutions that manage solar generation, storage, and communication on one platform. The company's microinverter technology primarily serves the rooftop solar market and produces a fully integrated solar-plus-storage solution. Geographically, it derives a majority of revenue from the United States.
After a thorough review of the options trading surrounding Enphase Energy, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Enphase Energy
- With a volume of 2,178,038, the price of ENPH is down -0.88% at $107.61.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 34 days.
Professional Analyst Ratings for Enphase Energy
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $146.66666666666666.
- Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on Enphase Energy with a target price of $124.
- An analyst from HSBC has elevated its stance to Buy, setting a new price target at $166.
- Consistent in their evaluation, an analyst from Canaccord Genuity keeps a Buy rating on Enphase Energy with a target price of $150.
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 Enphase Energy with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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