Coherent's Options Frenzy: What You Need to Know

High-rolling investors have positioned themselves bullish on Coherent COHR, 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 COHR often signals that someone has privileged information.

Today, Benzinga's options scanner spotted 23 options trades for Coherent. This is not a typical pattern.

The sentiment among these major traders is split, with 56% bullish and 43% bearish. Among all the options we identified, there was one put, amounting to $63,762, and 22 calls, totaling $1,584,430.

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Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $50.0 to $85.0 for Coherent over the last 3 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 Coherent'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 Coherent's whale trades within a strike price range from $50.0 to $85.0 in the last 30 days.

Coherent Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

About Coherent

Coherent Corp manufactures engineered materials, optoelectronic components and products used in industrial, optical communications, military, semiconductor, consumer, and life science applications. The firm operates in two segments Photonic Solutions Segment and Compound Semiconductors Segment. The Photonic Solutions Segment leverages II-VI's compound semiconductor technology platforms to deliver components and subsystems. The Compound Semiconductors Segment is a market leader in differentiated materials and devices.

Following our analysis of the options activities associated with Coherent, we pivot to a closer look at the company's own performance.

Present Market Standing of Coherent

• With a trading volume of 5,709,489, the price of COHR is up by 2.24%, reaching $59.3.
• Current RSI values indicate that the stock is may be overbought.
• Next earnings report is scheduled for 91 days from now.

What Analysts Are Saying About Coherent

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $60.4.

• An analyst from Barclays has elevated its stance to Overweight, setting a new price target at $60.
• Maintaining their stance, an analyst from Stifel continues to hold a Buy rating for Coherent, targeting a price of $58.
• Consistent in their evaluation, an analyst from Needham keeps a Buy rating on Coherent with a target price of $64.
• Maintaining their stance, an analyst from Benchmark continues to hold a Buy rating for Coherent, targeting a price of $65.
• Consistent in their evaluation, an analyst from Susquehanna keeps a Neutral rating on Coherent with a target price of $55.

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 Coherent options trades with real-time alerts from Benzinga Pro.