Deep-pocketed investors have adopted a bullish approach towards Enovix ENVX, 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 ENVX usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Enovix. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 62% leaning bullish and 37% bearish. Among these notable options, 2 are puts, totaling $167,745, and 6 are calls, amounting to $389,559.
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Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $10.0 to $25.0 for Enovix over the recent three months.
Analyzing Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Enovix's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Enovix's significant trades, within a strike price range of $10.0 to $25.0, over the past month.
Enovix 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 |
|---|---|---|---|---|---|---|---|---|
| ENVX | CALL | SWEEP | BULLISH | 01/17/25 | $20.00 | $230.6K | 55.8K | 1.0K |
| ENVX | PUT | SWEEP | BULLISH | 07/19/24 | $15.00 | $139.0K | 1.2K | 300 |
| ENVX | CALL | SWEEP | BULLISH | 03/15/24 | $16.00 | $40.1K | 1.0K | 167 |
| ENVX | CALL | SWEEP | BEARISH | 01/17/25 | $25.00 | $34.0K | 6.6K | 210 |
| ENVX | CALL | SWEEP | BULLISH | 03/15/24 | $13.00 | $32.1K | 462 | 368 |
About Enovix
Enovix Corp is engaged in the business of advanced silicon-anode lithium-ion battery development and production. It is also developing its 3D cell technology and production process for the electric vehicle and energy storage markets to help enable the widespread utilization of renewable energy.
After a thorough review of the options trading surrounding Enovix, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Enovix's Current Market Status
- With a volume of 3,632,234, the price of ENVX is down -0.68% at $11.62.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 4 days.
Professional Analyst Ratings for Enovix
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $30.0.
- An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $30.
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 Enovix options trades with real-time alerts from Benzinga Pro.
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