High-rolling investors have positioned themselves bullish on Gap GPS, 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 GPS often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 12 options trades for Gap. This is not a typical pattern.
The sentiment among these major traders is split, with 75% bullish and 25% bearish. Among all the options we identified, there was one put, amounting to $25,200, and 11 calls, totaling $569,626.
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 $14.0 and $22.0 for Gap, spanning the last three months.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Gap's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Gap's substantial trades, within a strike price spectrum from $14.0 to $22.0 over the preceding 30 days.
Gap 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 |
|---|---|---|---|---|---|---|---|---|
| GPS | CALL | SWEEP | NEUTRAL | 02/16/24 | $19.00 | $90.0K | 5.2K | 1.6K |
| GPS | CALL | SWEEP | BEARISH | 02/16/24 | $19.00 | $73.9K | 5.2K | 1.1K |
| GPS | CALL | SWEEP | BULLISH | 03/15/24 | $22.00 | $64.0K | 5.1K | 1.5K |
| GPS | CALL | SWEEP | BULLISH | 03/15/24 | $22.00 | $57.0K | 5.1K | 964 |
| GPS | CALL | SWEEP | BULLISH | 06/21/24 | $16.00 | $50.2K | 203 | 94 |
About Gap
Gap retails apparel, accessories, and personal-care products under the Gap, Old Navy, Banana Republic, and Athleta brands. Old Navy generates more than half of Gap's sales. The firm also operates e-commerce sites, outlet stores, and specialty stores under various Gap names. Gap operates approximately 2,600 stores in North America, Europe, and Asia and franchises more than 900 stores in Asia, Europe, Latin America, and other regions. Gap was founded in 1969 and is based in San Francisco.
In light of the recent options history for Gap, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Gap's Current Market Status
- Trading volume stands at 4,548,147, with GPS's price up by 0.45%, positioned at $20.15.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 24 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 Gap with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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