Investors with a lot of money to spend have taken a bearish stance on Tractor Supply TSCO.
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 this is an institution or just a wealthy individual, we don't know. But when something this big happens with TSCO, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 10 options trades for Tractor Supply.
This isn't normal.
The overall sentiment of these big-money traders is split between 20% bullish and 30%, bearish.
Out of all of the options we uncovered, 9 are puts, for a total amount of $461,777, and there was 1 call, for a total amount of $25,384.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $292.5 to $320.0 for Tractor Supply over the recent three months.
Volume & Open Interest Trends
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Tractor Supply's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Tractor Supply's whale trades within a strike price range from $292.5 to $320.0 in the last 30 days.
Tractor Supply 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| TSCO | PUT | SWEEP | NEUTRAL | 10/25/24 | $16.2 | $15.2 | $15.2 | $305.00 | $76.0K | 302 | 52 |
| TSCO | PUT | SWEEP | BULLISH | 12/20/24 | $18.3 | $17.6 | $17.75 | $300.00 | $51.4K | 3 | 58 |
| TSCO | PUT | SWEEP | BULLISH | 01/17/25 | $19.4 | $18.8 | $19.01 | $300.00 | $50.9K | 241 | 28 |
| TSCO | PUT | TRADE | BEARISH | 12/20/24 | $17.8 | $16.2 | $17.16 | $300.00 | $49.7K | 3 | 29 |
| TSCO | PUT | SWEEP | BEARISH | 01/17/25 | $19.2 | $18.8 | $19.07 | $300.00 | $49.6K | 241 | 81 |
About Tractor Supply
Tractor Supply is the largest operator of retail farm and ranch stores in the United States. The company targets recreational farmers and ranchers and has little exposure to commercial and industrial farm operations. Currently, the company operates 2,254 of its namesake banners in 49 states, including 81 Orscheln Farm and Home stores (rebranded as Tractor Supply), along with 205 Petsense by Tractor Supply stores. Stores are generally concentrated in rural communities, as opposed to urban and suburban areas. In fiscal 2023, revenue consisted primarily of livestock, equine & agriculture (27%), companion animal (25%), and seasonal & recreation (22%).
After a thorough review of the options trading surrounding Tractor Supply, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Tractor Supply
- With a volume of 449,546, the price of TSCO is down -0.25% at $290.7.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 1 days.
Expert Opinions on Tractor Supply
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $323.4.
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 Evercore ISI Group has revised its rating downward to In-Line, adjusting the price target to $300. * An analyst from Piper Sandler persists with their Overweight rating on Tractor Supply, maintaining a target price of $332. * An analyst from Truist Securities has decided to maintain their Buy rating on Tractor Supply, which currently sits at a price target of $325. * An analyst from Telsey Advisory Group persists with their Outperform rating on Tractor Supply, maintaining a target price of $335. * Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Tractor Supply, targeting a price of $325.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Tractor Supply with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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