Deep-pocketed investors have adopted a bearish approach towards New York Community NYCB, 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 NYCB usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 23 extraordinary options activities for New York Community. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 30% leaning bullish and 69% bearish. Among these notable options, 19 are puts, totaling $2,472,612, and 4 are calls, amounting to $270,160.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $2.0 and $10.0 for New York Community, spanning the last three months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of New York Community stands at 8321.13, with a total volume reaching 176,465.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in New York Community, situated within the strike price corridor from $2.0 to $10.0, throughout the last 30 days.
New York Community 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NYCB | PUT | TRADE | BEARISH | 03/15/24 | $2.50 | $991.6K | 0 | 50.0K |
| NYCB | PUT | SWEEP | BEARISH | 03/15/24 | $2.50 | $450.0K | 0 | 10.0K |
| NYCB | PUT | SWEEP | BEARISH | 04/19/24 | $2.50 | $428.8K | 0 | 7.2K |
| NYCB | CALL | SWEEP | BEARISH | 01/16/26 | $3.00 | $167.1K | 4.4K | 694 |
| NYCB | PUT | SWEEP | BULLISH | 07/19/24 | $3.00 | $85.0K | 8.4K | 1.0K |
About New York Community
New York Community Bancorp Inc is the bank holding company. It is a New York State-chartered savings bank that operates through eight local divisions: Queens County Savings Bank, Roslyn Savings Bank, Richmond County Savings Bank, Roosevelt Savings Bank, and Atlantic Bank in New York; Garden State Community Bank in New Jersey; Ohio Savings Bank in Ohio, and AmTrust Bank in Florida and Arizona. The bank compete for depositors in diverse markets with a comprehensive menu of products and services, and access to multiple service channels, including online banking, mobile banking, and banking by phone. It is also a producer of multi-family loans in New York City.
Following our analysis of the options activities associated with New York Community, we pivot to a closer look at the company's own performance.
Current Position of New York Community
- Trading volume stands at 44,998,202, with NYCB's price down by -4.02%, positioned at $4.3.
- RSI indicators show the stock to be may be oversold.
- Earnings announcement expected in 78 days.
Professional Analyst Ratings for New York Community
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $6.2.
- Consistent in their evaluation, an analyst from Morgan Stanley keeps a Equal-Weight rating on New York Community with a target price of $6.
- An analyst from B of A Securities downgraded its action to Neutral with a price target of $5.
- An analyst from DA Davidson has revised its rating downward to Neutral, adjusting the price target to $5.
- In a cautious move, an analyst from Compass Point downgraded its rating to Neutral, setting a price target of $8.
- In a cautious move, an analyst from RBC Capital downgraded its rating to Sector Perform, setting a price target of $7.
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 New York Community, 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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