Investors with a lot of money to spend have taken a bullish stance on Pure Storage PSTG.
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 PSTG, 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 8 uncommon options trades for Pure Storage.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $77,750, and 6 are calls, for a total amount of $369,560.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $35.0 to $55.0 for Pure Storage during the past quarter.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Pure Storage stands at 866.75, with a total volume reaching 2,107.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Pure Storage, situated within the strike price corridor from $35.0 to $55.0, throughout the last 30 days.
Pure Storage 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PSTG | CALL | SWEEP | BULLISH | 07/19/24 | $4.8 | $4.6 | $4.8 | $55.00 | $96.0K | 377 | 400 |
| PSTG | CALL | SWEEP | BULLISH | 07/19/24 | $4.8 | $4.6 | $4.8 | $55.00 | $96.0K | 377 | 200 |
| PSTG | CALL | SWEEP | BULLISH | 07/19/24 | $4.8 | $4.7 | $4.8 | $55.00 | $50.8K | 377 | 506 |
| PSTG | CALL | TRADE | NEUTRAL | 07/19/24 | $4.9 | $4.7 | $4.8 | $55.00 | $45.1K | 377 | 600 |
| PSTG | PUT | SWEEP | BULLISH | 01/17/25 | $1.55 | $1.45 | $1.45 | $35.00 | $43.5K | 1.2K | 300 |
About Pure Storage
Pure Storage Inc is a U.S.-based company that provides an enterprise data storage platform that transforms business through a dramatic increase in performance and reduction in complexity and costs. It generates revenue from two sources: product revenue which includes the sale of integrated storage hardware and embedded operating system software and; subscription services revenue which includes Evergreen Storage subscriptions, a unified subscription which includes Pure as-a-Service, and Cloud Block Store, and Portworx. Subscription services revenue also includes professional services offerings such as installation and implementation consulting services.
Present Market Standing of Pure Storage
- With a volume of 2,989,018, the price of PSTG is down -1.86% at $52.32.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 42 days.
What The Experts Say On Pure Storage
2 market experts have recently issued ratings for this stock, with a consensus target price of $65.5.
- An analyst from Susquehanna has decided to maintain their Positive rating on Pure Storage, which currently sits at a price target of $65.
- Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $66.
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 Pure Storage options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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