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Financial giants have made a conspicuous bearish move on GitLab. Our analysis of options history for GitLab (NASDAQ:GTLB) revealed 8 unusual trades.
Delving into the details, we found 37% of traders were bullish, while 62% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $74,261, and 6 were calls, valued at $309,029.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $47.0 to $105.0 for GitLab over the recent three months.
Insights into Volume & Open Interest
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 GitLab'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 GitLab's whale trades within a strike price range from $47.0 to $105.0 in the last 30 days.
GitLab Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| GTLB | CALL | SWEEP | BEARISH | 08/16/24 | $47.00 | $135.2K | 1 | 98 |
| GTLB | CALL | TRADE | BULLISH | 01/16/26 | $105.00 | $41.5K | 234 | 119 |
| GTLB | CALL | TRADE | BULLISH | 01/16/26 | $105.00 | $41.5K | 234 | 69 |
| GTLB | CALL | TRADE | BEARISH | 01/16/26 | $105.00 | $40.5K | 234 | 169 |
| GTLB | PUT | SWEEP | BEARISH | 03/22/24 | $54.00 | $38.2K | 27 | 461 |
About GitLab
GitLab Inc operates on an all-remote model. The company is a technology company whose primary offering is GitLab, a complete DevOps platform delivered as a single application. GitLab is used by a wide range of organizations. The company also provides related training and professional services. GitLab is offered on both self-managed and software-as-a-service (SaaS) models. The principal markets for GitLab are currently located in the United States, Europe, and Asia Pacific. The company is focused on accelerating innovation and broadening the distribution of its platform to companies across the world.
Following our analysis of the options activities associated with GitLab, we pivot to a closer look at the company's own performance.
Current Position of GitLab
- With a trading volume of 1,417,604, the price of GTLB is down by -1.12%, reaching $56.6.
- Current RSI values indicate that the stock is may be oversold.
- Next earnings report is scheduled for 82 days from now.
What Analysts Are Saying About GitLab
5 market experts have recently issued ratings for this stock, with a consensus target price of $78.8.
- Maintaining their stance, an analyst from Truist Securities continues to hold a Buy rating for GitLab, targeting a price of $80.
- Consistent in their evaluation, an analyst from Bernstein keeps a Outperform rating on GitLab with a target price of $74.
- Maintaining their stance, an analyst from Mizuho continues to hold a Buy rating for GitLab, targeting a price of $75.
- Maintaining their stance, an analyst from B of A Securities continues to hold a Buy rating for GitLab, targeting a price of $85.
- An analyst from RBC Capital has revised its rating downward to Outperform, adjusting the price target to $80.
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 GitLab, Benzinga Pro gives you real-time options trades alerts.
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