Investors with a lot of money to spend have taken a bearish stance on Skechers USA (NYSE:SKX).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with SKX, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 10 uncommon options trades for Skechers USA.
This isn't normal.
The overall sentiment of these big-money traders is split between 10% bullish and 80%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $1,331,039, and 3 are calls, for a total amount of $194,302.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $55.0 to $65.0 for Skechers USA over the recent three months.
Volume & Open Interest Development
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 Skechers USA'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 Skechers USA's whale activity within a strike price range from $55.0 to $65.0 in the last 30 days.
Skechers USA 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
About Skechers USA
Skechers USA Inc is a lifestyle footwear company under the Skechers GO brand name. Products offered include various styles of women's shoes, men's shoes, girl's shoes, boy's shoes, performance shoes, and work shoes. Allied products offered are apparel, bags, eyewear, toys, and more. Its products are available for sale at department and specialty stores, athletic and independent retailers, boutiques, and internet retailers. The company's operating segments includes Wholesale and Direct-to-Consumer. It generates maximum revenue from the Wholesale segment.
After a thorough review of the options trading surrounding Skechers USA, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Skechers USA
- With a volume of 1,058,438, the price of SKX is down -0.47% at $58.87.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 0 days.
What Analysts Are Saying About Skechers USA
3 market experts have recently issued ratings for this stock, with a consensus target price of $69.0.
- An analyst from Barclays downgraded its action to Overweight with a price target of $71.
- An analyst from Evercore ISI Group has decided to maintain their Outperform rating on Skechers USA, which currently sits at a price target of $68.
- An analyst from Wedbush has revised its rating downward to Outperform, adjusting the price target to $68.
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 Skechers USA options trades with real-time alerts from Benzinga Pro.
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