Looking At Axon Enterprise's Recent Unusual Options Activity

Investors with a lot of money to spend have taken a bullish stance on Axon Enterprise AXON.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with AXON, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 8 uncommon options trades for Axon Enterprise.

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $200,730, and 5 are calls, for a total amount of $382,103.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $250.0 and $350.0 for Axon Enterprise, spanning the last three months.

Insights into Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Axon Enterprise options trades today is 444.33 with a total volume of 1,986.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Axon Enterprise's big money trades within a strike price range of $250.0 to $350.0 over the last 30 days.

Axon Enterprise 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
AXON CALL SWEEP NEUTRAL 04/19/24 $350.00 $201.5K 2.2K 874
AXON PUT TRADE BULLISH 01/16/26 $310.00 $103.5K 1 23
AXON CALL TRADE BEARISH 12/20/24 $250.00 $87.0K 99 10
AXON PUT TRADE BULLISH 01/17/25 $310.00 $66.0K 1 20
AXON CALL TRADE NEUTRAL 04/19/24 $310.00 $33.6K 234 24

About Axon Enterprise

Axon Enterprise Inc develops, manufactures, and sells conducted energy devices and cloud-based digital evidence management software designed for use by law enforcement, corrections, military forces, private security personnel, and private individuals for personal defense. The company operates in two segments: Taser and software & sensors. Taser develops and sells CEDs used for protecting users and virtual reality training. Software and sensors manufacture fully integrated hardware and cloud-based software solutions such as body cameras, automated license plate reading, and digital evidence management systems. Axon delivers its products worldwide and derives the majority of its revenue from the software & sensors segment and geographically from the United States.

Having examined the options trading patterns of Axon Enterprise, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Axon Enterprise's Current Market Status

  • Trading volume stands at 151,371, with AXON's price up by 0.6%, positioned at $317.0.
  • RSI indicators show the stock to be may be overbought.
  • Earnings announcement expected in 62 days.

What The Experts Say On Axon Enterprise

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $306.4.

  • An analyst from Morgan Stanley persists with their Equal-Weight rating on Axon Enterprise, maintaining a target price of $285.
  • Maintaining their stance, an analyst from Needham continues to hold a Buy rating for Axon Enterprise, targeting a price of $315.
  • An analyst from JMP Securities persists with their Market Outperform rating on Axon Enterprise, maintaining a target price of $285.
  • An analyst from Goldman Sachs has decided to maintain their Buy rating on Axon Enterprise, which currently sits at a price target of $339.
  • Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for Axon Enterprise, targeting a price of $308.

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 Axon Enterprise options trades with real-time alerts from Benzinga Pro.

Market News and Data brought to you by Benzinga APIs
Date of Trade
Strike Price
Posted In: OptionsMarketsBZI-UOA
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