Deep-pocketed investors have adopted a bearish approach towards Etsy ETSY, 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 ETSY usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Etsy. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 25% leaning bullish and 37% bearish. Among these notable options, 2 are puts, totaling $57,730, and 6 are calls, amounting to $337,500.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $60.0 and $75.0 for Etsy, spanning the last three months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Etsy'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 Etsy's whale trades within a strike price range from $60.0 to $75.0 in the last 30 days.
Etsy 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ETSY | CALL | SWEEP | BEARISH | 08/16/24 | $2.7 | $2.56 | $2.6 | $65.00 | $130.5K | 2.8K | 120 |
| ETSY | CALL | TRADE | NEUTRAL | 01/16/26 | $10.9 | $10.45 | $10.66 | $75.00 | $53.3K | 104 | 1 |
| ETSY | CALL | SWEEP | NEUTRAL | 08/02/24 | $2.49 | $2.34 | $2.44 | $64.00 | $47.1K | 202 | 27 |
| ETSY | CALL | SWEEP | BEARISH | 08/16/24 | $3.0 | $2.99 | $2.99 | $65.00 | $35.8K | 2.8K | 1.1K |
| ETSY | CALL | TRADE | BULLISH | 08/16/24 | $3.0 | $2.93 | $2.99 | $65.00 | $35.8K | 2.8K | 943 |
About Etsy
Etsy operates a top-10 e-commerce marketplace operator in the us and the UK, with sizable operations in Germany, France, Australia, and Canada. The firm dominates an interesting niche, connecting buyers and sellers through its online market to exchange vintage and craft goods. With $13.2 billion in 2023 consolidated gross merchandise volume, Etsy has cemented itself as one of the largest players in a quickly growing space, generating revenue from listing fees, commissions on sold items, advertising services, payment processing, and shipping labels. As of the end of 2023, the firm connected more than 96 million buyers and 9 million sellers on its marketplace properties: Etsy, Reverb (musical equipment), and Depop (clothing resale).
Where Is Etsy Standing Right Now?
- Currently trading with a volume of 2,591,676, the ETSY's price is up by 0.44%, now at $60.76.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 16 days.
What Analysts Are Saying About Etsy
1 market experts have recently issued ratings for this stock, with a consensus target price of $56.0.
- Maintaining their stance, an analyst from Wells Fargo continues to hold a Underweight rating for Etsy, targeting a price of $56.
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 Etsy with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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