This Is What Whales Are Betting On Align Tech

Investors with a lot of money to spend have taken a bullish stance on Align Tech ALGN.

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 ALGN, 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 21 uncommon options trades for Align Tech.

This isn't normal.

The overall sentiment of these big-money traders is split between 66% bullish and 33%, bearish.

Out of all of the special options we uncovered, 10 are puts, for a total amount of $689,150, and 11 are calls, for a total amount of $701,951.

Latest Startup Investment Opportunities:

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $242.5 to $380.0 for Align Tech over the recent three months.

Analyzing Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Align Tech options trades today is 115.0 with a total volume of 1,561.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Align Tech's big money trades within a strike price range of $242.5 to $380.0 over the last 30 days.

Align Tech 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

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.

Where Is Align Tech Standing Right Now?

• With a trading volume of 455,533, the price of ALGN is down by -0.47%, reaching $263.5.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 0 days from now.

Expert Opinions on Align Tech

Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $260.0.

• Maintaining their stance, an analyst from UBS continues to hold a Neutral rating for Align Tech, targeting a price of $260.

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.