Smart Money Is Betting Big In TOST Options

Investors with significant funds have taken a bullish position in Toast TOST, a development that retail traders should be aware of.

This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in TOST usually indicates foreknowledge of upcoming events.

Today, Benzinga's options scanner identified 10 options transactions for Toast. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 60% being bullish and 10% bearish. Of all the options we discovered, 9 are puts, valued at $600,717, and there was a single call, worth $47,082.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $25.0 and $35.0 for Toast, spanning the last three months.

Volume & Open Interest Trends

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Toast'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 Toast's whale activity within a strike price range from $25.0 to $35.0 in the last 30 days.

Toast Option Activity Analysis: Last 30 Days

Largest Options Trades Observed:

About Toast

Toast is a us-based restaurant technology company that provides point-of-sale, payment processing, and various software services to 120,000 restaurant locations across the United States at the end of June 2024. The firm generates sales from software subscription fees, as a percentage take rate from each financial transaction it processes, from loan origination and servicing fees from its Toast Capital arm, and from hardware installation and professional services. Unlike competitors, Toast intermediates every payment transaction on its platform, processing some $126 billion in gross platform volume in 2023. The firm's product offerings span point-of-sale systems, inventory and payroll management, delivery integration, e-commerce ordering, reservation management, and loyalty programs.

Following our analysis of the options activities associated with Toast, we pivot to a closer look at the company's own performance.

Toast's Current Market Status

• With a trading volume of 2,165,208, the price of TOST is up by 0.23%, reaching $31.05.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 3 days from now.

What The Experts Say On Toast

5 market experts have recently issued ratings for this stock, with a consensus target price of $31.6.

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. * Maintaining their stance, an analyst from Baird continues to hold a Neutral rating for Toast, targeting a price of $30. * Consistent in their evaluation, an analyst from DA Davidson keeps a Buy rating on Toast with a target price of $35. * An analyst from Morgan Stanley has decided to maintain their Overweight rating on Toast, which currently sits at a price target of $33. * Consistent in their evaluation, an analyst from Stephens & Co. keeps a Equal-Weight rating on Toast with a target price of $30. * An analyst from Deutsche Bank persists with their Hold rating on Toast, maintaining a target price of $30.

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 Toast with Benzinga Pro for real-time alerts.