Check Out What Whales Are Doing With RACE

Deep-pocketed investors have adopted a bearish approach towards Ferrari RACE, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in RACE usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for Ferrari. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 18% leaning bullish and 63% bearish. Among these notable options, 5 are puts, totaling $458,560, and 6 are calls, amounting to $300,656.

Predicted Price Range

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $410.0 and $580.0 for Ferrari, spanning the last three months.

Analyzing Volume & Open Interest

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 Ferrari'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 Ferrari's whale activity within a strike price range from $410.0 to $580.0 in the last 30 days.

Ferrari Option Volume And Open Interest Over Last 30 Days

Noteworthy Options Activity:

About Ferrari

Ferrari designs, engineers and manufactures some of the world's most expensive luxury cars. With supply carefully controlled to be below demand and a brand steeped in decades of motor racing history, a Ferrari is viewed as a status symbol. In 2023, the company sold 13,663 vehicles at an average price over EUR 400,000 with more than 70% of its vehicles being sold to existing Ferrari clients. Eighty-six percent of revenue is generated from sales of cars and spare parts, 10% from sponsorship linked to its racing activities, and the remainder sourced from its captive finance company. In 2023, the Europe, Middle East, and Africa region accounted for 48% of revenue, the Americas was 30%, China was 10%, and rest of Asia was 13%.

Having examined the options trading patterns of Ferrari, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Current Position of Ferrari

• With a volume of 345,754, the price of RACE is down -4.94% at $452.55.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 0 days.

Professional Analyst Ratings for Ferrari

2 market experts have recently issued ratings for this stock, with a consensus target price of $545.0.

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. * Showing optimism, an analyst from JP Morgan upgrades its rating to Overweight with a revised price target of $525. * An analyst from Evercore ISI Group has decided to maintain their Outperform rating on Ferrari, which currently sits at a price target of $565.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Ferrari, Benzinga Pro gives you real-time options trades alerts.