Investors with a lot of money to spend have taken a bullish stance on Chewy (NYSE:CHWY).
And retail traders should know.
We noticed this today when the positions 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 CHWY, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 10 options trades for Chewy.
This isn't normal.
The overall sentiment of these big-money traders is split between 60% bullish and 40%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $32,875, and 9, calls, for a total amount of $257,864.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $2.5 and $20.0 for Chewy, spanning the last three months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Chewy'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 Chewy's whale trades within a strike price range from $2.5 to $20.0 in the last 30 days.
Chewy Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
About Chewy
Chewy is the largest e-commerce pet care retailer in the US, generating $11.2 billion in 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.
Present Market Standing of Chewy
- With a volume of 5,739,811, the price of CHWY is up 0.81% at $16.17.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 9 days.
What The Experts Say On Chewy
In the last month, 2 experts released ratings on this stock with an average target price of $16.0.
- Maintaining their stance, an analyst from Piper Sandler continues to hold a Neutral rating for Chewy, targeting a price of $16.
- Consistent in their evaluation, an analyst from Citigroup keeps a Neutral rating on Chewy with a target price of $16.
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 Chewy options trades with real-time alerts from Benzinga Pro.
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