Deep-pocketed investors have adopted a bearish approach towards SL Green Realty SLG, 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 SLG usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for SL Green Realty. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 12% leaning bullish and 87% bearish. Among these notable options, 6 are puts, totaling $500,440, and 2 are calls, amounting to $78,385.
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 $32.5 to $50.0 for SL Green Realty during the past quarter.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for SL Green Realty options trades today is 2175.0 with a total volume of 1,949.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for SL Green Realty's big money trades within a strike price range of $32.5 to $50.0 over the last 30 days.
SL Green Realty Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SLG | PUT | SWEEP | BEARISH | 03/15/24 | $42.50 | $220.8K | 6.0K | 40 |
| SLG | PUT | SWEEP | BEARISH | 03/15/24 | $42.50 | $131.5K | 6.0K | 1.1K |
| SLG | PUT | SWEEP | BEARISH | 07/19/24 | $40.00 | $51.6K | 137 | 120 |
| SLG | CALL | SWEEP | BULLISH | 01/17/25 | $50.00 | $39.9K | 332 | 54 |
| SLG | CALL | SWEEP | BEARISH | 03/15/24 | $50.00 | $38.4K | 6.2K | 287 |
About SL Green Realty
SL Green Realty is one of the largest Manhattan property owners and landlords, with interest in around 33 million square feet of wholly owned and joint-venture office space. The company has additional property exposure through its limited portfolio of well-located retail space. It operates as a real estate investment trust.
After a thorough review of the options trading surrounding SL Green Realty, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
SL Green Realty's Current Market Status
- Trading volume stands at 1,524,654, with SLG's price up by 0.93%, positioned at $45.37.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 76 days.
Expert Opinions on SL Green Realty
4 market experts have recently issued ratings for this stock, with a consensus target price of $47.75.
- An analyst from Truist Securities has revised its rating downward to Hold, adjusting the price target to $47.
- An analyst from Deutsche Bank has revised its rating downward to Hold, adjusting the price target to $50.
- An analyst from Goldman Sachs has decided to maintain their Sell rating on SL Green Realty, which currently sits at a price target of $36.
- An analyst from Piper Sandler has decided to maintain their Overweight rating on SL Green Realty, which currently sits at a price target of $58.
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 SL Green Realty 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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