Investors with a lot of money to spend have taken a bullish stance on Seagate Tech Hldgs (NASDAQ:STX).
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 this is an institution or just a wealthy individual, we don't know. But when something this big happens with STX, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 10 options trades for Seagate Tech Hldgs.
This isn't normal.
The overall sentiment of these big-money traders is split between 40% bullish and 10%, bearish.
Out of all of the options we uncovered, 9 are puts, for a total amount of $439,187, and there was 1 call, for a total amount of $43,660.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $90.0 to $100.0 for Seagate Tech Hldgs over the recent three months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Seagate Tech Hldgs stands at 317.0, with a total volume reaching 4,154.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Seagate Tech Hldgs, situated within the strike price corridor from $90.0 to $100.0, throughout the last 30 days.
Seagate Tech Hldgs Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
About Seagate Tech Hldgs
Seagate is a leading supplier of hard disk drives for data storage to the enterprise and consumer markets. It forms a practical duopoly in the market with its chief rival, Western Digital; they are both vertically integrated.
After a thorough review of the options trading surrounding Seagate Tech Hldgs, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Seagate Tech Hldgs Standing Right Now?
- With a trading volume of 1,511,552, the price of STX is up by 0.03%, reaching $93.27.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 51 days from now.
Expert Opinions on Seagate Tech Hldgs
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $110.0.
- An analyst from Mizuho has decided to maintain their Buy rating on Seagate Tech Hldgs, which currently sits at a price target of $110.
- Reflecting concerns, an analyst from Citigroup lowers its rating to Buy with a new price target of $110.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Seagate Tech Hldgs with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
