Chewy Unusual Options Activity For March 18

Whales with a lot of money to spend have taken a noticeably bullish stance on Chewy.

Looking at options history for Chewy CHWY we detected 8 trades.

If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 50% with bearish.

From the overall spotted trades, 3 are puts, for a total amount of $265,420 and 5, calls, for a total amount of $203,247.

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 $30.0 and $42.5 for Chewy, spanning the last three 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 Chewy's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Chewy's substantial trades, within a strike price spectrum from $30.0 to $42.5 over the preceding 30 days.

Chewy Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

About Chewy

Chewy is the largest e-commerce petcare retailer in the US, generating $11.2 billion in fiscal 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.

In light of the recent options history for Chewy, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Chewy's Current Market Status

• Trading volume stands at 2,965,375, with CHWY's price down by -4.66%, positioned at $31.5.
• RSI indicators show the stock to be may be approaching oversold.
• Earnings announcement expected in 8 days.

What Analysts Are Saying About Chewy

1 market experts have recently issued ratings for this stock, with a consensus target price of $39.0.

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 Wedbush downgraded its action to Outperform with a price target of $39.

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 Chewy, Benzinga Pro gives you real-time options trades alerts.