Deep-pocketed investors have adopted a bullish approach towards GEO Group GEO, 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 GEO 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 GEO Group. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 62% leaning bullish and 25% bearish. Among these notable options, 4 are puts, totaling $153,039, and 4 are calls, amounting to $156,482.
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 $12.0 to $20.0 for GEO Group over the last 3 months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for GEO Group options trades today is 762.25 with a total volume of 2,151.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for GEO Group's big money trades within a strike price range of $12.0 to $20.0 over the last 30 days.
GEO Group 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GEO | CALL | TRADE | NEUTRAL | 08/02/24 | $1.3 | $1.2 | $1.25 | $15.00 | $67.3K | 1.0K | 1.0K |
| GEO | PUT | SWEEP | BULLISH | 08/30/24 | $4.0 | $3.9 | $3.9 | $20.00 | $39.0K | 500 | 0 |
| GEO | PUT | SWEEP | BULLISH | 08/30/24 | $4.0 | $3.8 | $3.83 | $20.00 | $38.3K | 500 | 200 |
| GEO | PUT | SWEEP | BULLISH | 08/30/24 | $3.9 | $3.8 | $3.82 | $20.00 | $38.0K | 500 | 300 |
| GEO | PUT | SWEEP | BULLISH | 08/30/24 | $3.9 | $3.8 | $3.8 | $20.00 | $37.6K | 500 | 101 |
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.
Having examined the options trading patterns of GEO Group, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of GEO Group
- With a volume of 1,427,148, the price of GEO is down -3.12% at $15.83.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 16 days.
Expert Opinions on 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.
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 GEO Group with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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