Investors with a lot of money to spend have taken a bullish stance on GEO Group GEO.
And retail traders should know.
We noticed this today when the positions 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 GEO, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 10 options trades for GEO Group.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $376,000, and 9, calls, for a total amount of $403,785.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $15.0 to $22.0 for GEO Group over the last 3 months.
Analyzing Volume & Open Interest
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 GEO Group'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 GEO Group's whale activity within a strike price range from $15.0 to $22.0 in the last 30 days.
GEO Group 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 |
---|---|---|---|---|---|---|---|---|---|---|---|
GEO | PUT | TRADE | BULLISH | 01/17/25 | $3.9 | $3.7 | $3.76 | $20.00 | $376.0K | 226 | 0 |
GEO | CALL | TRADE | BEARISH | 08/16/24 | $3.1 | $2.95 | $3.0 | $15.00 | $88.8K | 2.0K | 206 |
GEO | CALL | SWEEP | BEARISH | 08/16/24 | $3.1 | $3.0 | $3.0 | $15.00 | $59.4K | 2.0K | 8 |
GEO | CALL | SWEEP | BULLISH | 07/19/24 | $0.25 | $0.2 | $0.25 | $18.00 | $56.6K | 409 | 174 |
GEO | CALL | SWEEP | BULLISH | 01/17/25 | $2.9 | $2.65 | $2.75 | $18.00 | $51.4K | 423 | 0 |
About GEO Group
The GEO Group Inc specializes in detention facilities and community reentry centers. It operates in four segments: U.S. Secure Services, which mainly encompasses U.S.-based secure services business; Electronic Monitoring and Supervision Services, which conducts its services in the United States, represents services provided to adults for monitoring services and evidence-based supervision and treatment programs for community-based parolees, probationers, and pretrial defendants; Reentry Services conducts its services in the United States represents services provided to adults for residential and non-residential treatment, educational and community-based programs, pre-release and half-way house programs; and International Services.
Following our analysis of the options activities associated with GEO Group, we pivot to a closer look at the company's own performance.
GEO Group's Current Market Status
- Currently trading with a volume of 1,263,146, the GEO's price is up by 2.12%, now at $17.8.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 22 days.
Professional Analyst Ratings for GEO Group
In the last month, 1 experts released ratings on this stock with an average target price of $18.75.
- In a cautious move, an analyst from Jones Trading downgraded its rating to Buy, setting a price target of $18.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for GEO Group, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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