Investors with a lot of money to spend have taken a bearish stance on Sea SE.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with SE, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 8 options trades for Sea.
This isn't normal.
The overall sentiment of these big-money traders is split between 37% bullish and 62%, bearish.
Out of all of the options we uncovered, 7 are puts, for a total amount of $626,804, and there was 1 call, for a total amount of $29,240.
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 $55.0 to $67.0 for Sea over the last 3 months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Sea stands at 771.17, with a total volume reaching 1,724.00. 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 $67.0, throughout the last 30 days.
Sea 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SE | PUT | SWEEP | BEARISH | 01/17/25 | $6.55 | $4.9 | $5.05 | $55.00 | $251.9K | 3.5K | 2 |
| SE | PUT | TRADE | BULLISH | 01/17/25 | $6.05 | $5.05 | $5.35 | $55.00 | $146.5K | 3.5K | 967 |
| SE | PUT | SWEEP | BEARISH | 01/17/25 | $5.2 | $5.05 | $5.2 | $55.00 | $99.3K | 3.5K | 502 |
| SE | PUT | SWEEP | BEARISH | 08/16/24 | $8.3 | $8.1 | $8.3 | $67.00 | $44.8K | 581 | 54 |
| SE | PUT | SWEEP | BEARISH | 08/16/24 | $5.2 | $5.1 | $5.2 | $62.00 | $33.7K | 127 | 48 |
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.
Where Is Sea Standing Right Now?
- With a trading volume of 2,828,846, the price of SE is down by -6.28%, reaching $60.03.
- Current RSI values indicate that the stock is may be oversold.
- Next earnings report is scheduled for 11 days from now.
Expert Opinions on Sea
2 market experts have recently issued ratings for this stock, with a consensus target price of $78.5.
- An analyst from B of A Securities persists with their Buy rating on Sea, maintaining a target price of $77.
- An analyst from Citigroup persists with their Buy rating on Sea, maintaining a target price of $80.
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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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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