Deep-pocketed investors have adopted a bearish approach towards GigaCloud Tech GCT, 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 GCT usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for GigaCloud Tech. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 45% leaning bullish and 54% bearish. Among these notable options, 3 are puts, totaling $179,405, and 8 are calls, amounting to $825,265.
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 $12.5 to $40.0 for GigaCloud Tech over the last 3 months.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in GigaCloud Tech's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to GigaCloud Tech's substantial trades, within a strike price spectrum from $12.5 to $40.0 over the preceding 30 days.
GigaCloud Tech Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| GCT | CALL | TRADE | BULLISH | 04/19/24 | $35.00 | $171.5K | 951 | 495 |
| GCT | CALL | SWEEP | BEARISH | 07/19/24 | $20.00 | $168.0K | 561 | 155 |
| GCT | CALL | SWEEP | BEARISH | 07/19/24 | $22.50 | $148.8K | 358 | 140 |
| GCT | CALL | TRADE | BEARISH | 03/15/24 | $30.00 | $120.0K | 927 | 319 |
| GCT | CALL | SWEEP | BULLISH | 04/19/24 | $17.50 | $90.2K | 306 | 78 |
About GigaCloud Tech
GigaCloud Technology Inc end-to-end B2B e-commerce solutions for large parcel merchandise. Its B2B e-commerce platform, which refers to as the GigaCloud Marketplace, integrates everything from discovery, payments, and logistics tools into one easy-to-use platform. It offers online and offline integrated cross-border transaction and delivery services for furniture and large merchandise. Its marketplace seamlessly connects manufacturers in Asia, with resellers in the U.S., Asia, and Europe, to execute cross-border transactions with confidence, speed, and efficiency. It offers a truly comprehensive solution that transports products from the manufacturer's warehouse to end customers, all at one fixed price.
Present Market Standing of GigaCloud Tech
- Currently trading with a volume of 2,354,646, the GCT's price is up by 2.6%, now at $30.04.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 32 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 GigaCloud Tech with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
