Deep-pocketed investors have adopted a bearish approach towards Align Tech ALGN, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in ALGN usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for Align Tech. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 11% leaning bullish and 88% bearish. Among these notable options, 7 are puts, totaling $288,395, and 2 are calls, amounting to $103,360.
Latest Startup Investment Opportunities:
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $175.0 to $330.0 for Align Tech over the last 3 months.
Volume & Open Interest Trends
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Align Tech'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 Align Tech's whale activity within a strike price range from $175.0 to $330.0 in the last 30 days.
Align Tech Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ALGN | PUT | SWEEP | BEARISH | 07/19/24 | $175.00 | $60.7K | 3 | 346 |
| ALGN | CALL | SWEEP | NEUTRAL | 01/17/25 | $260.00 | $60.3K | 19 | 10 |
| ALGN | PUT | SWEEP | BEARISH | 07/19/24 | $175.00 | $48.6K | 3 | 128 |
| ALGN | PUT | TRADE | BEARISH | 07/19/24 | $175.00 | $44.5K | 3 | 498 |
| ALGN | CALL | TRADE | NEUTRAL | 04/19/24 | $330.00 | $43.0K | 242 | 0 |
About Align Tech
Align Technology is the leading manufacturer of clear aligners. Invisalign, its main product, was approved by the FDA in 1998, and it has since dominated, controlling over 90% of the market. Invisalign can treat roughly 90% of all malocclusion cases (misaligned teeth), and there are over 230,000 Invisalign-trained dentists and orthodontists. In 2022, Invisalign treated over 2 million cases, or roughly 10% of all orthodontic cases for the year, and it has treated over 14 million patients since its launch. Align also sells intraoral scanners under the brand iTero, which captures digital impressions of patients' teeth and illustrates treatment plans. Over 85% of Invisalign cases are submitted by digital scans and iTero scans make up over half of these scans.
In light of the recent options history for Align Tech, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Align Tech
- Trading volume stands at 198,113, with ALGN's price down by -0.13%, positioned at $266.0.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 9 days.
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 Align Tech with Benzinga Pro for real-time alerts.
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