Deep-pocketed investors have adopted a bullish approach towards Dick's Sporting Goods DKS, 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 DKS usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for Dick's Sporting Goods. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 44% leaning bullish and 33% bearish. Among these notable options, 3 are puts, totaling $122,100, and 6 are calls, amounting to $258,108.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $150.0 to $270.0 for Dick's Sporting Goods over the recent three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Dick's Sporting Goods options trades today is 115.75 with a total volume of 438.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Dick's Sporting Goods's big money trades within a strike price range of $150.0 to $270.0 over the last 30 days.
Dick's Sporting Goods Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DKS | CALL | TRADE | BEARISH | 09/06/24 | $31.8 | $30.0 | $30.0 | $200.00 | $60.0K | 48 | 20 |
| DKS | CALL | TRADE | BEARISH | 01/17/25 | $26.7 | $26.5 | $26.5 | $230.00 | $53.0K | 75 | 20 |
| DKS | PUT | TRADE | BULLISH | 01/17/25 | $12.6 | $12.5 | $12.5 | $200.00 | $50.0K | 214 | 40 |
| DKS | CALL | SWEEP | BEARISH | 08/23/24 | $1.85 | $1.55 | $1.55 | $237.50 | $46.5K | 0 | 306 |
| DKS | PUT | SWEEP | BULLISH | 01/16/26 | $46.8 | $46.3 | $46.3 | $240.00 | $46.3K | 354 | 2 |
About Dick's Sporting Goods
Dick's Sporting Goods retails athletic apparel, footwear, and equipment for sports. Dick's operates digital platforms, about 725 stores under its namesake brand (including outlet stores and House of Sport), and about 130 specialty stores under the Golf Galaxy and Public Lands nameplates. Dick's carries private-label merchandise and national brands such as Nike, The North Face, Under Armour, Callaway Golf, and TaylorMade. Based in the Pittsburgh area, Dick's was founded in 1948 by the father of current executive chairman and controlling shareholder Edward Stack.
Following our analysis of the options activities associated with Dick's Sporting Goods, we pivot to a closer look at the company's own performance.
Present Market Standing of Dick's Sporting Goods
- With a volume of 593,354, the price of DKS is down -0.67% at $222.62.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 19 days.
What Analysts Are Saying About Dick's Sporting Goods
In the last month, 2 experts released ratings on this stock with an average target price of $213.5.
- Maintaining their stance, an analyst from Wells Fargo continues to hold a Equal-Weight rating for Dick's Sporting Goods, targeting a price of $227.
- Consistent in their evaluation, an analyst from Loop Capital keeps a Hold rating on Dick's Sporting Goods with a target price of $200.
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 Dick's Sporting Goods, 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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