High-rolling investors have positioned themselves bearish on Enovix ENVX, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in ENVX often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for Enovix. This is not a typical pattern.
The sentiment among these major traders is split, with 25% bullish and 75% bearish. Among all the options we identified, there was one put, amounting to $145,286, and 7 calls, totaling $491,265.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $10.0 to $12.0 for Enovix over the recent three months.
Analyzing Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Enovix's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Enovix's significant trades, within a strike price range of $10.0 to $12.0, over the past month.
Enovix 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ENVX | PUT | SWEEP | BULLISH | 04/19/24 | $11.00 | $145.2K | 4.6K | 0 |
| ENVX | CALL | SWEEP | BEARISH | 07/19/24 | $11.00 | $132.1K | 1.1K | 1.9K |
| ENVX | CALL | SWEEP | BEARISH | 07/19/24 | $12.00 | $93.6K | 347 | 1.5K |
| ENVX | CALL | SWEEP | BEARISH | 04/19/24 | $10.00 | $79.2K | 1.7K | 391 |
| ENVX | CALL | SWEEP | BEARISH | 07/19/24 | $11.00 | $67.7K | 1.1K | 777 |
About Enovix
Enovix Corp is engaged in the business of advanced silicon-anode lithium-ion battery development and production. It is also developing its 3D cell technology and production process for the electric vehicle and energy storage markets to help enable the widespread utilization of renewable energy.
Where Is Enovix Standing Right Now?
- With a volume of 3,008,022, the price of ENVX is up 1.1% at $10.11.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 34 days.
What The Experts Say On Enovix
In the last month, 1 experts released ratings on this stock with an average target price of $30.0.
- An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $30.
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 Enovix, Benzinga Pro gives you real-time options trades alerts.
© 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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