Paramount Global's Options Frenzy: What You Need to Know

Investors with a lot of money to spend have taken a bullish stance on Paramount Global PARA.

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 PARA, 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 20 uncommon options trades for Paramount Global.

This isn't normal.

The overall sentiment of these big-money traders is split between 60% bullish and 40%, bearish.

Out of all of the special options we uncovered, 7 are puts, for a total amount of $1,240,336, and 13 are calls, for a total amount of $630,758.

Latest Startup Investment Opportunities:

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $7.5 to $13.0 for Paramount Global over the last 3 months.

Insights into Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Paramount Global's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Paramount Global's significant trades, within a strike price range of $7.5 to $13.0, over the past month.

Paramount Global Call and Put Volume: 30-Day Overview

Significant Options Trades Detected:

About Paramount Global

Paramount Global operates in three global business segments: TV media, filmed entertainment, and direct to consumer. The TV media business includes television production studios and various broadcast and cable networks, including CBS, 15 owned CBS affiliates, Paramount, Nickelodeon, MTV, BET, and VH1. Filmed entertainment consists multiple film studios, most importantly Paramount Pictures. The film studios produce and distribute movies that they license to movie theaters and other media outlets. Direct to consumer includes multiple streaming platforms, including Paramount+, which now includes Showtime, Pluto TV, and BET+. Much of the content on Paramount's streaming platforms is created by the production studios housed within the firm's other two business segments.

Current Position of Paramount Global

• With a trading volume of 18,228,923, the price of PARA is up by 6.13%, reaching $11.6.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 52 days from now.

What The Experts Say On Paramount Global

Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $13.25.

• An analyst from Morgan Stanley has decided to maintain their Underweight rating on Paramount Global, which currently sits at a price target of $10.
• An analyst from Rosenblatt persists with their Sell rating on Paramount Global, maintaining a target price of $9.
• An analyst from Needham has revised its rating downward to Buy, adjusting the price target to $15.
• Maintaining their stance, an analyst from Benchmark continues to hold a Buy rating for Paramount Global, targeting a price of $19.

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 Paramount Global, Benzinga Pro gives you real-time options trades alerts.