Investors with a lot of money to spend have taken a bearish stance on GEO Group GEO.
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 GEO, 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 GEO Group.
This isn't normal.
The overall sentiment of these big-money traders is split between 33% bullish and 66%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $1,782,636, and 7 are calls, for a total amount of $410,020.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $10.0 to $20.0 for GEO Group over the recent three months.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for GEO Group's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across GEO Group's significant trades, within a strike price range of $10.0 to $20.0, over the past month.
GEO Group Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GEO | PUT | TRADE | BEARISH | 11/15/24 | $1.75 | $1.5 | $1.7 | $15.00 | $1.5M | 2.3K | 10.0K |
| GEO | PUT | SWEEP | BULLISH | 11/15/24 | $2.65 | $2.55 | $2.55 | $16.50 | $105.0K | 1 | 125 |
| GEO | PUT | SWEEP | BEARISH | 11/15/24 | $1.6 | $1.5 | $1.6 | $15.00 | $104.3K | 2.3K | 691 |
| GEO | CALL | SWEEP | BEARISH | 01/17/25 | $2.05 | $1.95 | $1.95 | $17.00 | $94.6K | 1.9K | 1.0K |
| GEO | CALL | SWEEP | BEARISH | 01/17/25 | $1.95 | $1.65 | $1.75 | $17.00 | $93.4K | 1.9K | 522 |
About GEO Group
The GEO Group Inc specializes in detention facilities and community reentry centers. It operates in four segments: U.S. Secure Services, which mainly encompasses U.S.-based secure services business; Electronic Monitoring and Supervision Services, which conducts its services in the United States, represents services provided to adults for monitoring services and evidence-based supervision and treatment programs for community-based parolees, probationers, and pretrial defendants; Reentry Services conducts its services in the United States represents services provided to adults for residential and non-residential treatment, educational and community-based programs, pre-release and half-way house programs; and International Services.
Having examined the options trading patterns of GEO Group, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of GEO Group
- Currently trading with a volume of 2,207,306, the GEO's price is down by -1.67%, now at $15.29.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 15 days.
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.
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 GEO Group 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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