Deep-pocketed investors have adopted a bullish approach towards Sea SE, 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 SE usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for Sea. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 45% leaning bullish and 45% bearish. Among these notable options, 5 are puts, totaling $273,503, and 6 are calls, amounting to $317,307.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $55.0 to $80.0 for Sea over the last 3 months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Sea stands at 1716.09, with a total volume reaching 2,338.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Sea, situated within the strike price corridor from $55.0 to $80.0, throughout the last 30 days.
Sea 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SE | CALL | TRADE | BULLISH | 03/21/25 | $15.05 | $14.4 | $14.9 | $60.00 | $149.0K | 127 | 100 |
| SE | PUT | SWEEP | BEARISH | 08/09/24 | $1.4 | $1.33 | $1.4 | $65.00 | $103.5K | 2.0K | 1.4K |
| SE | PUT | SWEEP | BEARISH | 08/16/24 | $13.65 | $13.25 | $13.65 | $80.00 | $54.6K | 685 | 1 |
| SE | CALL | SWEEP | BULLISH | 09/20/24 | $3.95 | $3.85 | $3.95 | $70.00 | $49.3K | 6.5K | 167 |
| SE | PUT | SWEEP | BULLISH | 01/16/26 | $16.75 | $16.65 | $16.65 | $72.50 | $46.6K | 62 | 29 |
About Sea
Sea operates Southeast Asia's largest e-commerce company, Shopee, in terms of gross merchandise value and number of transactions. Sea started as a gaming business, Garena, but in 2015 expanded into e-commerce, which is now the main growth driver. Shopee is a hybrid C2C and B2C marketplace platform operating in eight core markets. Indonesia accounts for 35% of GMV, with the rest split mainly among Taiwan, Vietnam, Thailand, Malaysia, and the Philippines. For Garena, Free Fire was the most downloaded game in January 2022 and accounted for 74% of gaming revenue in 2021. Sea's third business, SeaMoney, provides mostly credit lending.
After a thorough review of the options trading surrounding Sea, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Sea
- Currently trading with a volume of 3,158,485, the SE's price is down by -0.99%, now at $66.8.
- RSI readings suggest the stock is currently may be oversold.
- Anticipated earnings release is in 21 days.
Expert Opinions on Sea
4 market experts have recently issued ratings for this stock, with a consensus target price of $77.5.
- An analyst from Citigroup persists with their Buy rating on Sea, maintaining a target price of $80.
- Reflecting concerns, an analyst from DBS Bank lowers its rating to Hold with a new price target of $75.
- An analyst from B of A Securities has decided to maintain their Buy rating on Sea, which currently sits at a price target of $77.
- An analyst from JP Morgan has revised its rating downward to Neutral, adjusting the price target to $78.
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 Sea 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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