Check Out What Whales Are Doing With PARA

Financial giants have made a conspicuous bearish move on Paramount Global. Our analysis of options history for Paramount Global PARA revealed 22 unusual trades.

Delving into the details, we found 27% of traders were bullish, while 72% showed bearish tendencies. Out of all the trades we spotted, 11 were puts, with a value of $1,048,866, and 11 were calls, valued at $649,260.

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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 $10.0 to $18.0 for Paramount Global during the past quarter.

Insights into Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Paramount Global's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Paramount Global's substantial trades, within a strike price spectrum from $10.0 to $18.0 over the preceding 30 days.

Paramount Global 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

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.

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

Paramount Global's Current Market Status

• Currently trading with a volume of 6,449,420, the PARA's price is up by 0.44%, now at $11.31.
• RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
• Anticipated earnings release is in 48 days.

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.

• Consistent in their evaluation, an analyst from Morgan Stanley keeps a Underweight rating on Paramount Global with a target price of $10.
• An analyst from Benchmark has decided to maintain their Buy rating on Paramount Global, which currently sits at a price target of $19.
• In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $15.
• An analyst from Rosenblatt has decided to maintain their Sell rating on Paramount Global, which currently sits at a price target of $9.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Paramount Global with Benzinga Pro for real-time alerts.