Investors with a lot of money to spend have taken a bullish stance on Maxeon Solar Technologies MAXN.
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 this is an institution or just a wealthy individual, we don't know. But when something this big happens with MAXN, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 30 options trades for Maxeon Solar Technologies.
This isn't normal.
The overall sentiment of these big-money traders is split between 36% bullish and 30%, bearish.
Out of all of the options we uncovered, 29 are puts, for a total amount of $1,656,090, and there was 1 call, for a total amount of $41,126.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $1.0 to $7.5 for Maxeon Solar Technologies over the recent three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Maxeon Solar Technologies options trades today is 32763.75 with a total volume of 24,416.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Maxeon Solar Technologies's big money trades within a strike price range of $1.0 to $7.5 over the last 30 days.
Maxeon Solar Technologies Option Activity Analysis: 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MAXN | PUT | SWEEP | BEARISH | 07/19/24 | $2.25 | $2.2 | $2.2 | $2.50 | $647.3K | 121.4K | 105 |
| MAXN | PUT | SWEEP | BULLISH | 07/19/24 | $2.25 | $2.2 | $2.2 | $2.50 | $65.3K | 121.4K | 3.3K |
| MAXN | PUT | TRADE | BULLISH | 06/21/24 | $4.1 | $4.0 | $4.0 | $5.00 | $63.2K | 5.7K | 2.5K |
| MAXN | PUT | TRADE | NEUTRAL | 06/21/24 | $6.6 | $6.4 | $6.5 | $7.50 | $53.9K | 858 | 33 |
| MAXN | PUT | TRADE | BULLISH | 06/21/24 | $1.1 | $0.85 | $0.95 | $2.00 | $47.5K | 5.1K | 66 |
About Maxeon Solar Technologies
Maxeon Solar Technologies Ltd is engaged in the manufacturing and marketing of premium solar technology. It owns and operates solar cell and panel manufacturing facilities located in Malaysia, Mexico, and the Philippines. The company's primary products are the Maxeon line of interdigitated back contact (IBC) solar cells and panels, and the Performance line (formerly, P-Series) of shingled solar cells and panels. the Maxeon line of solar panels are the highest-efficiency solar panels on the market with an aesthetically pleasing design, and the Performance line of solar panels offers a high-value and cost-effective solution. It is targeted at residential and small-scale commercial customers across the globe. The company derives its revenue from the United States, France, Italy, and others.
Following our analysis of the options activities associated with Maxeon Solar Technologies, we pivot to a closer look at the company's own performance.
Where Is Maxeon Solar Technologies Standing Right Now?
- Trading volume stands at 3,094,567, with MAXN's price up by 3.96%, positioned at $1.05.
- RSI indicators show the stock to be may be oversold.
- Earnings announcement expected in 48 days.
What The Experts Say On Maxeon Solar Technologies
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $1.5.
- Maintaining their stance, an analyst from Roth MKM continues to hold a Neutral rating for Maxeon Solar Technologies, targeting a price of $2.
- An analyst from Goldman Sachs has revised its rating downward to Sell, adjusting the price target to $1.
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 Maxeon Solar Technologies 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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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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