Financial giants have made a conspicuous bullish move on Align Tech. Our analysis of options history for Align Tech ALGN revealed 9 unusual trades.
Delving into the details, we found 55% of traders were bullish, while 44% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $90,900, and 7 were calls, valued at $330,542.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $280.0 to $350.0 for Align Tech over the recent three months.
Insights into 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 Align 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 Align Tech's substantial trades, within a strike price spectrum from $280.0 to $350.0 over the preceding 30 days.
Align Tech Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ALGN | CALL | SWEEP | BEARISH | 03/01/24 | $310.00 | $88.0K | 300 | 166 |
| ALGN | PUT | TRADE | BULLISH | 04/19/24 | $340.00 | $56.2K | 10 | 29 |
| ALGN | CALL | TRADE | BULLISH | 03/15/24 | $300.00 | $48.3K | 784 | 27 |
| ALGN | CALL | SWEEP | BEARISH | 03/01/24 | $310.00 | $43.5K | 300 | 93 |
| ALGN | CALL | SWEEP | BULLISH | 03/08/24 | $320.00 | $41.0K | 27 | 116 |
About Align Tech
Align Technology is the leading manufacturer of clear aligners. Invisalign, its main product, was approved by the FDA in 1998, and it has since dominated, controlling over 90% of the market. Invisalign can treat roughly 90% of all malocclusion cases (misaligned teeth), and there are over 230,000 Invisalign-trained dentists and orthodontists. In 2022, Invisalign treated over 2 million cases, or roughly 10% of all orthodontic cases for the year, and it has treated over 14 million patients since its launch. Align also sells intraoral scanners under the brand iTero, which captures digital impressions of patients' teeth and illustrates treatment plans. Over 85% of Invisalign cases are submitted by digital scans and iTero scans make up over half of these scans.
After a thorough review of the options trading surrounding Align Tech, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Align Tech
- Trading volume stands at 384,080, with ALGN's price down by 0.0%, positioned at $316.56.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 61 days.
Professional Analyst Ratings for Align Tech
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $273.3333333333333.
- An analyst from Goldman Sachs has decided to maintain their Sell rating on Align Tech, which currently sits at a price target of $225.
- An analyst from UBS persists with their Neutral rating on Align Tech, maintaining a target price of $260.
- An analyst from Piper Sandler has decided to maintain their Overweight rating on Align Tech, which currently sits at a price target of $335.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Align Tech, Benzinga Pro gives you real-time options trades alerts.
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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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