Investors with a lot of money to spend have taken a bearish stance on Enovix ENVX.
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 ENVX, 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 10 uncommon options trades for Enovix.
This isn't normal.
The overall sentiment of these big-money traders is split between 30% bullish and 70%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $372,239, and 6 are calls, for a total amount of $205,309.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $3.0 to $15.0 for Enovix over the recent three months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Enovix stands at 1800.38, with a total volume reaching 1,909.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Enovix, situated within the strike price corridor from $3.0 to $15.0, throughout the last 30 days.
Enovix 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ENVX | PUT | SWEEP | BEARISH | 12/20/24 | $4.85 | $4.75 | $4.84 | $15.00 | $241.7K | 8.8K | 500 |
| ENVX | PUT | SWEEP | BULLISH | 04/17/25 | $3.7 | $3.6 | $3.6 | $12.00 | $69.4K | 1.5K | 194 |
| ENVX | CALL | SWEEP | BEARISH | 01/15/27 | $10.1 | $8.2 | $8.39 | $3.00 | $49.3K | 118 | 61 |
| ENVX | CALL | SWEEP | BEARISH | 04/17/25 | $3.9 | $3.8 | $3.8 | $9.00 | $44.0K | 311 | 116 |
| ENVX | PUT | TRADE | BULLISH | 10/25/24 | $1.3 | $1.08 | $1.11 | $11.50 | $33.3K | 961 | 521 |
About Enovix
Enovix Corp is engaged in the business of advanced silicon-anode lithium-ion battery development and production. It is also developing its 3D cell technology and production process for the electric vehicle and energy storage markets to help enable the widespread utilization of renewable energy.
After a thorough review of the options trading surrounding Enovix, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Enovix Standing Right Now?
- With a trading volume of 3,000,179, the price of ENVX is down by -9.58%, reaching $10.19.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 6 days from now.
What The Experts Say On Enovix
In the last month, 1 experts released ratings on this stock with an average target price of $15.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from JP Morgan persists with their Overweight rating on Enovix, maintaining a target price of $15.
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 Enovix 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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