Investors with a lot of money to spend have taken a bearish stance on Iridium Comms IRDM.
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 IRDM, 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 12 uncommon options trades for Iridium Comms.
This isn't normal.
The overall sentiment of these big-money traders is split between 33% bullish and 50%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $148,149, and 9 are calls, for a total amount of $617,510.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $25.0 to $40.0 for Iridium Comms during the past quarter.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Iridium Comms's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Iridium Comms's substantial trades, within a strike price spectrum from $25.0 to $40.0 over the preceding 30 days.
Iridium Comms 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| IRDM | CALL | SWEEP | NEUTRAL | 11/15/24 | $9.9 | $9.0 | $9.3 | $25.00 | $186.9K | 259 | 207 |
| IRDM | CALL | SWEEP | BEARISH | 11/15/24 | $2.05 | $2.0 | $2.0 | $35.00 | $100.0K | 1.1K | 746 |
| IRDM | CALL | SWEEP | BEARISH | 04/17/25 | $7.6 | $5.9 | $5.9 | $30.00 | $82.6K | 387 | 150 |
| IRDM | PUT | SWEEP | BULLISH | 01/17/25 | $3.1 | $3.0 | $3.0 | $35.00 | $82.2K | 2 | 274 |
| IRDM | CALL | SWEEP | BEARISH | 04/17/25 | $2.6 | $2.3 | $2.3 | $40.00 | $58.8K | 1.5K | 266 |
About Iridium Comms
Iridium Communications Inc offers voice and data communications services and products to businesses, U.S. and international government agencies, and other customers on a global basis. The company is a provider of mobile voice and data communications services through a constellation of low earth-orbiting satellites. Iridium's solutions are ideally suited for industries such as maritime, aviation, government/military, emergency/humanitarian services, mining, forestry, oil and gas, heavy equipment, transportation, and utilities. Iridium also provides service to subscribers from the U.S. Department of Defense, as well as other civil and government agencies around the world. The Company operates in one business segment, providing global satellite communications services and products.
Following our analysis of the options activities associated with Iridium Comms, we pivot to a closer look at the company's own performance.
Current Position of Iridium Comms
- Trading volume stands at 1,475,970, with IRDM's price up by 15.45%, positioned at $34.87.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 0 days.
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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 Iridium Comms 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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