Deep-pocketed investors have adopted a bearish approach towards Unity Software U, 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 U usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 15 extraordinary options activities for Unity Software. 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, 10 are puts, totaling $489,540, and 5 are calls, amounting to $425,999.
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 $15.0 to $34.0 for Unity Software during the past quarter.
Volume & Open Interest Trends
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Unity Software's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Unity Software's whale trades within a strike price range from $15.0 to $34.0 in the last 30 days.
Unity Software Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| U | CALL | TRADE | BULLISH | 01/16/26 | $30.00 | $160.1K | 1.2K | 155 |
| U | CALL | SWEEP | BEARISH | 01/16/26 | $15.00 | $108.1K | 104 | 60 |
| U | PUT | SWEEP | BULLISH | 03/08/24 | $34.00 | $89.0K | 458 | 200 |
| U | PUT | SWEEP | BEARISH | 05/17/24 | $32.00 | $77.4K | 1.8K | 158 |
| U | PUT | TRADE | BULLISH | 03/28/24 | $34.00 | $75.0K | 116 | 150 |
About Unity Software
Unity Software Inc provides a software platform for creating and operating interactive, real-time 3D content. The platform can be used to create, run and monetize interactive, real-time 2D and 3D content for mobile phones, tablets, PCs, consoles, and augmented and virtual reality devices. The business is spread across the United States, Greater China, EMEA, APAC and Other Americas, of which key revenue is derived from the EMEA region. The products are used in the gaming industry, architecture and construction sector, animation industry, and designing sector.
After a thorough review of the options trading surrounding Unity Software, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Unity Software
- Currently trading with a volume of 10,843,351, the U's price is down by -2.32%, now at $30.3.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 70 days.
Professional Analyst Ratings for Unity Software
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $28.5.
- In a cautious move, an analyst from Macquarie downgraded its rating to Underperform, setting a price target of $20.
- Consistent in their evaluation, an analyst from Needham keeps a Buy rating on Unity Software with a target price of $31.
- An analyst from Wedbush has decided to maintain their Outperform rating on Unity Software, which currently sits at a price target of $33.
- Maintaining their stance, an analyst from Barclays continues to hold a Equal-Weight rating for Unity Software, targeting a price of $28.
- An analyst from Piper Sandler has elevated its stance to Neutral, setting a new price target at $30.
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 Unity Software, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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