High-rolling investors have positioned themselves bearish on AppLovin APP, 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 APP often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for AppLovin. This is not a typical pattern.
The sentiment among these major traders is split, with 0% bullish and 87% bearish. Among all the options we identified, there was one put, amounting to $76,380, and 7 calls, totaling $401,090.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $220.0 to $335.0 for AppLovin over the last 3 months.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in AppLovin's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to AppLovin's substantial trades, within a strike price spectrum from $220.0 to $335.0 over the preceding 30 days.
AppLovin Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| APP | CALL | TRADE | BEARISH | 01/17/25 | $62.7 | $60.0 | $60.0 | $260.00 | $120.0K | 56 | 0 |
| APP | PUT | SWEEP | BEARISH | 01/17/25 | $20.1 | $19.1 | $20.1 | $310.00 | $76.3K | 1.2K | 39 |
| APP | CALL | SWEEP | BEARISH | 01/15/27 | $127.9 | $126.0 | $126.0 | $320.00 | $75.6K | 7 | 10 |
| APP | CALL | TRADE | BEARISH | 01/15/27 | $127.9 | $126.0 | $126.0 | $320.00 | $50.4K | 7 | 4 |
| APP | CALL | SWEEP | BEARISH | 12/20/24 | $98.0 | $95.0 | $95.0 | $220.00 | $47.5K | 60 | 0 |
About AppLovin
AppLovin Corp is a mobile app technology company. It focuses on growing the mobile app ecosystem by enabling the success of mobile app developers. The company's software solutions provide tools for mobile app developers to grow their businesses by automating and optimizing the marketing and monetization of their applications.
Having examined the options trading patterns of AppLovin, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of AppLovin
- Currently trading with a volume of 537,876, the APP's price is down by -1.05%, now at $315.38.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 54 days.
What Analysts Are Saying About AppLovin
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $433.0.
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. * An analyst from Macquarie has decided to maintain their Outperform rating on AppLovin, which currently sits at a price target of $450. * Consistent in their evaluation, an analyst from B of A Securities keeps a Buy rating on AppLovin with a target price of $375. * An analyst from Jefferies persists with their Buy rating on AppLovin, maintaining a target price of $400. * Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for AppLovin, targeting a price of $460. * An analyst from Oppenheimer downgraded its action to Outperform with a price target of $480.
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 AppLovin, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
