Dick's Sporting Goods Unusual Options Activity

Deep-pocketed investors have adopted a bullish approach towards Dick's Sporting Goods DKS, 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 DKS usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 14 extraordinary options activities for Dick's Sporting Goods. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 71% leaning bullish and 28% bearish. Among these notable options, 4 are puts, totaling $114,180, and 10 are calls, amounting to $460,460.

Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $120.0 to $200.0 for Dick's Sporting Goods during the past quarter.

Insights into Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Dick's Sporting Goods options trades today is 140.43 with a total volume of 1,188.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Dick's Sporting Goods's big money trades within a strike price range of $120.0 to $200.0 over the last 30 days.

Dick's Sporting Goods Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

About Dick's Sporting Goods

Dick's Sporting Goods retails athletic apparel, footwear, and equipment for sports. Dick's operates digital platforms, about 725 stores under its namesake brand (including outlet stores), and about 135 specialty stores under the Golf Galaxy, Moosejaw, and Public Lands nameplates. Dick's carries private-label merchandise and national brands such as Nike, The North Face, Under Armour, Callaway Golf, and TaylorMade. Based in the Pittsburgh area, Dick's was founded in 1948 by the father of current executive chairman and controlling shareholder Edward Stack.

After a thorough review of the options trading surrounding Dick's Sporting Goods, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Current Position of Dick's Sporting Goods

• Trading volume stands at 1,336,555, with DKS's price up by 3.07%, positioned at $186.45.
• RSI indicators show the stock to be may be overbought.
• Earnings announcement expected in 8 days.

What Analysts Are Saying About Dick's Sporting Goods

A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $183.33333333333334.

• An analyst from Truist Securities has decided to maintain their Buy rating on Dick's Sporting Goods, which currently sits at a price target of $201.
• Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on Dick's Sporting Goods with a target price of $174.
• An analyst from Wells Fargo has decided to maintain their Equal-Weight rating on Dick's Sporting Goods, which currently sits at a price target of $175.

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 Dick's Sporting Goods, Benzinga Pro gives you real-time options trades alerts.