Investors with a lot of money to spend have taken a bullish stance on Zions Bancorp ZION.
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 these are institutions or just wealthy individuals, we don't know. But when something this big happens with ZION, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 13 uncommon options trades for Zions Bancorp.
This isn't normal.
The overall sentiment of these big-money traders is split between 46% bullish and 46%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $137,595, and 10 are calls, for a total amount of $855,822.
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 $40.0 to $47.5 for Zions Bancorp over the last 3 months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Zions Bancorp options trades today is 3456.33 with a total volume of 28,995.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Zions Bancorp's big money trades within a strike price range of $40.0 to $47.5 over the last 30 days.
Zions Bancorp Option Volume And Open Interest Over 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ZION | CALL | SWEEP | BULLISH | 10/18/24 | $3.8 | $3.5 | $3.8 | $45.00 | $380.0K | 150 | 2.0K |
| ZION | CALL | SWEEP | BULLISH | 10/18/24 | $3.7 | $3.5 | $3.7 | $45.00 | $110.9K | 150 | 3.0K |
| ZION | CALL | SWEEP | NEUTRAL | 10/18/24 | $3.8 | $3.5 | $3.65 | $45.00 | $91.2K | 150 | 354 |
| ZION | PUT | TRADE | BEARISH | 12/20/24 | $2.8 | $2.65 | $2.8 | $40.00 | $69.7K | 6.0K | 500 |
| ZION | CALL | SWEEP | BEARISH | 10/18/24 | $2.65 | $2.35 | $2.49 | $47.50 | $62.0K | 4.1K | 239 |
About Zions Bancorp
Zions Bancorporation is a regional U.S. bank with core operations that span 11 states. The bank is headquartered in Salt Lake City and does business primarily in the Western and Southwestern United States. Zions primarily focuses on providing banking services to small and midsize businesses, with the bulk of its loans focused on commercial and commercial real estate lending.
Present Market Standing of Zions Bancorp
- With a trading volume of 628,015, the price of ZION is down by -3.75%, reaching $45.02.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 77 days from now.
What Analysts Are Saying About Zions Bancorp
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $49.2.
- An analyst from RBC Capital has decided to maintain their Sector Perform rating on Zions Bancorp, which currently sits at a price target of $48.
- Consistent in their evaluation, an analyst from Morgan Stanley keeps a Underweight rating on Zions Bancorp with a target price of $42.
- An analyst from Wedbush has decided to maintain their Neutral rating on Zions Bancorp, which currently sits at a price target of $52.
- An analyst from Keefe, Bruyette & Woods persists with their Market Perform rating on Zions Bancorp, maintaining a target price of $52.
- An analyst from Wells Fargo persists with their Equal-Weight rating on Zions Bancorp, maintaining a target price of $52.
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 Zions Bancorp 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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