High-rolling investors have positioned themselves bullish on Chewy CHWY, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in CHWY often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 9 options trades for Chewy. This is not a typical pattern.
The sentiment among these major traders is split, with 77% bullish and 22% bearish. Among all the options we identified, there was one put, amounting to $39,610, and 8 calls, totaling $386,090.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $2.5 and $40.0 for Chewy, spanning the last three months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Chewy options trades today is 978.5 with a total volume of 3,700.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Chewy's big money trades within a strike price range of $2.5 to $40.0 over the last 30 days.
Chewy 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CHWY | CALL | SWEEP | BULLISH | 11/15/24 | $2.0 | $1.99 | $2.0 | $27.50 | $64.8K | 3.5K | 334 |
| CHWY | CALL | SWEEP | BEARISH | 11/15/24 | $1.98 | $1.96 | $1.98 | $27.50 | $63.5K | 3.5K | 738 |
| CHWY | CALL | TRADE | BULLISH | 11/08/24 | $3.1 | $3.05 | $3.1 | $26.50 | $56.1K | 271 | 262 |
| CHWY | CALL | SWEEP | BEARISH | 11/15/24 | $2.13 | $1.97 | $1.97 | $27.50 | $52.0K | 3.5K | 747 |
| CHWY | CALL | SWEEP | BULLISH | 12/20/24 | $2.3 | $2.13 | $2.3 | $30.00 | $49.1K | 1.3K | 509 |
About Chewy
Chewy is the largest e-commerce pet care retailer in the US, generating $11.2 billion in 2023 sales across pet food, treats, hard goods, and pharmacy categories. The firm was founded in 2011, acquired by PetSmart in 2017, and tapped public markets as a stand-alone company in 2019 after spending a couple of years developing under the aegis of the pet superstore chain. The firm generates sales from pet food, treats, over-the-counter medications, medical prescription fulfillment, and hard goods, like crates, leashes, and bowls.
Following our analysis of the options activities associated with Chewy, we pivot to a closer look at the company's own performance.
Current Position of Chewy
- With a trading volume of 7,598,046, the price of CHWY is up by 6.42%, reaching $28.86.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 30 days from now.
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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 Chewy 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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