Looking At Fastly's Recent Unusual Options Activity

Deep-pocketed investors have adopted a bearish approach towards Fastly FSLY, 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 FSLY usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 17 extraordinary options activities for Fastly. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 23% leaning bullish and 76% bearish. Among these notable options, 5 are puts, totaling $277,631, and 12 are calls, amounting to $519,179.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $17.5 to $25.0 for Fastly over the recent three months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Fastly stands at 1273.78, with a total volume reaching 15,898.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Fastly, situated within the strike price corridor from $17.5 to $25.0, throughout the last 30 days.

Fastly Option Volume And Open Interest Over Last 30 Days

Noteworthy Options Activity:

About Fastly

Fastly operates a content delivery network, which is necessary for entities to provide faster and more reliable online content. Fastly's strategy differs from traditional CDNs, which focus on locating servers in as many locations as possible to store copies of files that consumers most use. Fastly is in far fewer sites than traditional CDNs, but it houses servers in the most network-dense data centers. Instead of simply storing static content, it allows its customers to program on its platform, enabling edge computing and better service of the more dynamic content that was traditionally not well served by CDNs. Fastly gears its service to the largest, most sophisticated enterprises rather than small companies and generated nearly three fourths of its revenue in the United States in 2022.

After a thorough review of the options trading surrounding Fastly, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Present Market Standing of Fastly

• Currently trading with a volume of 7,468,119, the FSLY's price is down by -1.59%, now at $16.08.
• RSI readings suggest the stock is currently may be approaching oversold.
• Anticipated earnings release is in 75 days.

What The Experts Say On Fastly

2 market experts have recently issued ratings for this stock, with a consensus target price of $20.0.

• Reflecting concerns, an analyst from Craig-Hallum lowers its rating to Hold with a new price target of $20.
• An analyst from Citigroup has elevated its stance to Neutral, setting a new price target at $20.

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 Fastly with Benzinga Pro for real-time alerts.