Deep-pocketed investors have adopted a bearish approach towards Symbotic SYM, 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 SYM 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 Symbotic. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 25% leaning bullish and 75% bearish. Among these notable options, 4 are puts, totaling $336,253, and 4 are calls, amounting to $239,346.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $20.0 to $52.5 for Symbotic over the recent three months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Symbotic stands at 5424.86, with a total volume reaching 3,948.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Symbotic, situated within the strike price corridor from $20.0 to $52.5, throughout the last 30 days.
Symbotic Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SYM | PUT | TRADE | BEARISH | 01/17/25 | $31.0 | $29.9 | $30.71 | $52.50 | $132.0K | 53 | 71 |
| SYM | PUT | SWEEP | BEARISH | 09/20/24 | $1.65 | $1.6 | $1.6 | $20.00 | $113.6K | 35.8K | 1.1K |
| SYM | CALL | SWEEP | BEARISH | 10/18/24 | $4.1 | $3.9 | $3.9 | $20.00 | $90.8K | 189 | 234 |
| SYM | CALL | SWEEP | BULLISH | 09/20/24 | $1.75 | $1.55 | $1.7 | $25.00 | $79.4K | 1.8K | 484 |
| SYM | PUT | SWEEP | BEARISH | 08/30/24 | $1.55 | $1.2 | $1.52 | $22.00 | $60.0K | 23 | 400 |
About Symbotic
Symbotic Inc is an automation technology company that develops technologies to improve operating efficiencies in modern warehouses. The group develops, commercializes, and deploys innovative, end-to-end technology solutions that dramatically improve supply chain operations. Symbotic also automates the processing of pallets and cases in large warehouses or distribution centers for some of the retail and wholesale companies in the world. The company operates in two geographical regions the United States and Canada. Key revenue is generated from the United States.
Having examined the options trading patterns of Symbotic, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Symbotic's Current Market Status
- With a trading volume of 2,027,053, the price of SYM is up by 0.92%, reaching $21.59.
- Current RSI values indicate that the stock is may be oversold.
- Next earnings report is scheduled for 94 days from now.
Professional Analyst Ratings for Symbotic
5 market experts have recently issued ratings for this stock, with a consensus target price of $36.8.
- Consistent in their evaluation, an analyst from Deutsche Bank keeps a Buy rating on Symbotic with a target price of $59.
- An analyst from BWS Financial downgraded its action to Sell with a price target of $10.
- Consistent in their evaluation, an analyst from Keybanc keeps a Overweight rating on Symbotic with a target price of $40.
- An analyst from Craig-Hallum has decided to maintain their Buy rating on Symbotic, which currently sits at a price target of $45.
- An analyst from Goldman Sachs persists with their Neutral rating on Symbotic, maintaining a target price of $30.
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 Symbotic, 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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