Deep-pocketed investors have adopted a bearish approach towards Dell Technologies DELL, 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 DELL usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 20 extraordinary options activities for Dell Technologies. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 40% leaning bullish and 60% bearish. Among these notable options, 3 are puts, totaling $128,410, and 17 are calls, amounting to $920,161.
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Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $75.0 and $110.0 for Dell Technologies, spanning the last three months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Dell Technologies stands at 630.4, with a total volume reaching 5,473.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Dell Technologies, situated within the strike price corridor from $75.0 to $110.0, throughout the last 30 days.
Dell Technologies Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| DELL | CALL | SWEEP | BEARISH | 06/21/24 | $100.00 | $156.0K | 658 | 314 |
| DELL | CALL | SWEEP | BULLISH | 03/01/24 | $90.00 | $129.2K | 1.1K | 332 |
| DELL | CALL | SWEEP | BULLISH | 03/01/24 | $91.00 | $81.0K | 543 | 0 |
| DELL | CALL | SWEEP | BEARISH | 03/01/24 | $100.00 | $70.6K | 978 | 1.1K |
| DELL | PUT | TRADE | NEUTRAL | 03/01/24 | $96.00 | $64.1K | 71 | 175 |
About Dell Technologies
Dell Technologies is a broad information technology vendor, primarily supplying hardware to enterprises. It is focused on premium personal computers and enterprise on-premises data center hardware. It holds top-three shares in its core markets of personal computers, peripheral displays, mainstream servers, and external storage. Dell is vertically-integrated but has a robust ecosystem of component and assembly partners, and also relies heavily on channel partners to fulfill its sales.
In light of the recent options history for Dell Technologies, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Dell Technologies
- With a volume of 1,957,949, the price of DELL is up 0.16% at $92.92.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 2 days.
What Analysts Are Saying About Dell Technologies
2 market experts have recently issued ratings for this stock, with a consensus target price of $99.5.
- Consistent in their evaluation, an analyst from UBS keeps a Buy rating on Dell Technologies with a target price of $99.
- Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on Dell Technologies with a target price of $100.
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 Dell Technologies options trades with real-time alerts from Benzinga Pro.
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