Investors with a lot of money to spend have taken a bearish stance on KeyCorp KEY.
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 KEY, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 10 options trades for KeyCorp.
This isn't normal.
The overall sentiment of these big-money traders is split between 30% bullish and 60%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $226,000, and 9, calls, for a total amount of $353,800.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $8.0 to $16.0 for KeyCorp over the last 3 months.
Insights into Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for KeyCorp's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across KeyCorp's significant trades, within a strike price range of $8.0 to $16.0, over the past month.
KeyCorp Option Volume And Open Interest Over 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| KEY | PUT | TRADE | BULLISH | 12/20/24 | $1.17 | $1.13 | $1.13 | $16.00 | $226.0K | 125 | 2.0K |
| KEY | CALL | TRADE | BEARISH | 01/16/26 | $8.45 | $8.35 | $8.35 | $8.00 | $50.1K | 1.8K | 310 |
| KEY | CALL | TRADE | BEARISH | 01/16/26 | $5.05 | $5.0 | $5.0 | $12.00 | $45.0K | 2.1K | 570 |
| KEY | CALL | SWEEP | BEARISH | 01/16/26 | $8.45 | $8.35 | $8.37 | $8.00 | $41.7K | 1.8K | 332 |
| KEY | CALL | TRADE | BEARISH | 01/16/26 | $8.4 | $8.3 | $8.33 | $8.00 | $41.6K | 1.8K | 200 |
About KeyCorp
With assets of over $180 billion, Ohio-based KeyCorp's bank footprint spans 16 states, but it is predominantly concentrated in its two largest markets: Ohio and New York. KeyCorp is primarily focused on serving middle-market commercial clients through a hybrid community/corporate bank model.
Current Position of KeyCorp
- With a trading volume of 4,902,206, the price of KEY is up by 0.62%, reaching $16.35.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 78 days from now.
What The Experts Say On KeyCorp
In the last month, 4 experts released ratings on this stock with an average target price of $16.5.
- Reflecting concerns, an analyst from UBS lowers its rating to Neutral with a new price target of $15.
- Consistent in their evaluation, an analyst from Wedbush keeps a Neutral rating on KeyCorp with a target price of $16.
- Consistent in their evaluation, an analyst from RBC Capital keeps a Outperform rating on KeyCorp with a target price of $17.
- An analyst from DA Davidson has decided to maintain their Buy rating on KeyCorp, which currently sits at 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 KeyCorp with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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