Investors with a lot of money to spend have taken a bullish stance on Enovix ENVX.
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 ENVX, 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 25 uncommon options trades for Enovix.
This isn't normal.
The overall sentiment of these big-money traders is split between 56% bullish and 32%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $260,361, and 19 are calls, for a total amount of $1,050,272.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $8.0 and $20.0 for Enovix, spanning the last three 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 Enovix'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 Enovix's whale activity within a strike price range from $8.0 to $20.0 in the last 30 days.
Enovix Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ENVX | CALL | SWEEP | BULLISH | 07/19/24 | $0.75 | $0.74 | $0.75 | $16.00 | $137.1K | 5.4K | 176 |
| ENVX | CALL | SWEEP | BEARISH | 07/26/24 | $0.86 | $0.72 | $0.86 | $17.00 | $86.6K | 3.0K | 19 |
| ENVX | CALL | TRADE | BULLISH | 07/26/24 | $0.77 | $0.74 | $0.77 | $17.00 | $77.0K | 3.0K | 1.0K |
| ENVX | CALL | TRADE | BULLISH | 07/26/24 | $0.75 | $0.64 | $0.75 | $17.00 | $75.0K | 3.0K | 2.0K |
| ENVX | PUT | SWEEP | BULLISH | 09/20/24 | $1.92 | $1.92 | $1.92 | $14.00 | $72.0K | 1.1K | 0 |
About Enovix
Enovix Corp is engaged in the business of advanced silicon-anode lithium-ion battery development and production. It is also developing its 3D cell technology and production process for the electric vehicle and energy storage markets to help enable the widespread utilization of renewable energy.
Having examined the options trading patterns of Enovix, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Enovix's Current Market Status
- With a trading volume of 6,231,975, the price of ENVX is up by 7.89%, reaching $15.31.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 21 days from now.
Expert Opinions on Enovix
In the last month, 1 experts released ratings on this stock with an average target price of $17.0.
- Consistent in their evaluation, an analyst from Canaccord Genuity keeps a Buy rating on Enovix with a target price of $17.
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 Enovix with Benzinga Pro for real-time alerts.
© 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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