Deep-pocketed investors have adopted a bullish approach towards New Fortress Energy NFE, 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 NFE 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 New Fortress Energy. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 37% leaning bullish and 25% bearish. Among these notable options, 6 are puts, totaling $833,950, and 2 are calls, amounting to $71,460.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $18.0 to $33.0 for New Fortress Energy during the past quarter.
Volume & Open Interest Trends
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in New Fortress Energy's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to New Fortress Energy's substantial trades, within a strike price spectrum from $18.0 to $33.0 over the preceding 30 days.
New Fortress Energy Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NFE | PUT | SWEEP | BULLISH | 08/16/24 | $17.5 | $17.0 | $17.0 | $33.00 | $190.4K | 729 | 120 |
| NFE | PUT | SWEEP | BEARISH | 09/20/24 | $11.6 | $9.5 | $9.5 | $25.00 | $170.0K | 984 | 17 |
| NFE | PUT | TRADE | BULLISH | 08/16/24 | $18.7 | $17.2 | $17.3 | $33.00 | $143.5K | 729 | 203 |
| NFE | PUT | TRADE | NEUTRAL | 08/16/24 | $17.4 | $17.2 | $17.3 | $33.00 | $129.7K | 729 | 278 |
| NFE | PUT | TRADE | NEUTRAL | 08/16/24 | $2.75 | $2.4 | $2.55 | $18.00 | $127.5K | 1.0K | 557 |
About New Fortress Energy
New Fortress Energy is an integrated gas-to-power company. Its business model spans the entire production and delivery chain from natural gas procurement and liquefaction to logistics, shipping, terminals, and conversion or development of a natural gas-fired generation. It has invested in floating, liquefied natural gas vessels to both lower the cost of acquiring gas while securing a long-term supply for its terminals. Its segments include terminals and infrastructure, or T&I, and ships.
In light of the recent options history for New Fortress Energy, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of New Fortress Energy
- Currently trading with a volume of 1,563,348, the NFE's price is down by -5.48%, now at $16.2.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 4 days.
What The Experts Say On New Fortress Energy
In the last month, 1 experts released ratings on this stock with an average target price of $26.0.
- An analyst from Deutsche Bank has decided to maintain their Hold rating on New Fortress Energy, which currently sits at a price target of $26.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for New Fortress Energy, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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