Investors with a lot of money to spend have taken a bullish stance on Cintas CTAS.
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 CTAS, 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 9 uncommon options trades for Cintas.
This isn't normal.
The overall sentiment of these big-money traders is split between 33% bullish and 11%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $262,800, and 2 are calls, for a total amount of $61,664.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $640.0 and $750.0 for Cintas, spanning the last three months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Cintas options trades today is 7.67 with a total volume of 240.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Cintas's big money trades within a strike price range of $640.0 to $750.0 over the last 30 days.
Cintas 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CTAS | PUT | TRADE | BULLISH | 01/17/25 | $39.9 | $37.8 | $37.8 | $720.00 | $37.8K | 0 | 80 |
| CTAS | PUT | TRADE | BULLISH | 01/17/25 | $39.8 | $37.5 | $37.5 | $720.00 | $37.5K | 0 | 60 |
| CTAS | PUT | TRADE | BULLISH | 01/17/25 | $39.9 | $37.5 | $37.5 | $720.00 | $37.5K | 0 | 45 |
| CTAS | PUT | TRADE | NEUTRAL | 01/17/25 | $41.4 | $33.3 | $37.5 | $720.00 | $37.5K | 0 | 20 |
| CTAS | PUT | TRADE | NEUTRAL | 01/17/25 | $41.4 | $33.3 | $37.5 | $720.00 | $37.5K | 0 | 20 |
About Cintas
Cintas is positioned as a one-stop shop that rents/sells uniforms and ancillary products and services, such as mops, first aid kits, and fire inspections. In its core uniform and facility services unit (a majority of sales), Cintas provides uniform rental programs for items including office attire, custom-tailored apparel, flame-resistant clothing, lab coats, and other profession-specific clothing. Facilities products generally include the rental and sale of entrance mats, mops, shop towels, hand sanitizers, and restroom supplies. Cintas' remaining businesses include first aid and safety services, fire protection services, and uniform direct sales.
Having examined the options trading patterns of Cintas, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Cintas's Current Market Status
- With a volume of 22,217, the price of CTAS is up 0.79% at $721.4.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 7 days.
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 Cintas 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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