Toast's Options Frenzy: What You Need to Know

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

We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for Toast. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 10% leaning bullish and 90% bearish. Among these notable options, 8 are puts, totaling $543,819, and 2 are calls, amounting to $72,050.

Latest Startup Investment Opportunities:

What's The Price Target?

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $18.0 to $25.0 for Toast during the past quarter.

Volume & Open Interest Trends

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Toast's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Toast's substantial trades, within a strike price spectrum from $18.0 to $25.0 over the preceding 30 days.

Toast Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

About Toast

Toast is a U.S.-based restaurant technology company that provides point-of-sale, payment processing, and various software services to 99,000 restaurant locations across the United States at the end of September 2023. The firm generates sales from software subscription fees, as a percentage take rate from each financial transaction it processes, from loan origination and servicing fees from its Toast Capital arm, and from hardware installation and professional services. Unlike competitors, Toast intermediates every payment transaction on its platform, processing some $92 billion in gross platform volume in 2022. The firm's product offerings span point-of-sale systems, inventory and payroll management, delivery integration, e-commerce ordering, reservation management, and loyalty programs.

Current Position of Toast

• Currently trading with a volume of 7,359,556, the TOST's price is down by -2.71%, now at $21.19.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 76 days.

What The Experts Say On Toast

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $20.6.

• In a positive move, an analyst from Redburn Atlantic has upgraded their rating to Buy and adjusted the price target to $28.
• Consistent in their evaluation, an analyst from Piper Sandler keeps a Neutral rating on Toast with a target price of $20.
• Consistent in their evaluation, an analyst from RBC Capital keeps a Sector Perform rating on Toast with a target price of $23.
• Maintaining their stance, an analyst from Mizuho continues to hold a Neutral rating for Toast, targeting a price of $17.
• Maintaining their stance, an analyst from Wells Fargo continues to hold a Underweight rating for Toast, targeting a price of $15.

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 Toast options trades with real-time alerts from Benzinga Pro.