Market Whales and Their Recent Bets on CART Options

Investors with a lot of money to spend have taken a bullish stance on Maplebear CART.

And retail traders should know.

We noticed this today when the positions 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 CART, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 9 options trades for Maplebear.

This isn't normal.

The overall sentiment of these big-money traders is split between 55% bullish and 44%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $26,970, and 8, calls, for a total amount of $430,993.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $33.0 and $40.0 for Maplebear, spanning the last three months.

Volume & Open Interest Development

In today's trading context, the average open interest for options of Maplebear stands at 3016.57, with a total volume reaching 24,869.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Maplebear, situated within the strike price corridor from $33.0 to $40.0, throughout the last 30 days.

Maplebear Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

About Maplebear

Maplebear, which does business as Instacart, is an online grocery pickup and delivery service provider currently in the United States and Canada. Instacart partners with local and national grocers who provide their selection of food and other goods to customers through Instacart's mobile app or website. After a customer places an order, an independent personal shopper employed by Instacart will pick the order and either prepare it for pickup or deliver it to the customer's chosen location. Instacart's revenue model consists of transaction revenue in the form of retailer and customer fees, as well as advertising revenue from brand advertising on Instacart platforms.

Following our analysis of the options activities associated with Maplebear, we pivot to a closer look at the company's own performance.

Where Is Maplebear Standing Right Now?

• Trading volume stands at 1,678,589, with CART's price down by -0.56%, positioned at $35.6.
• RSI indicators show the stock to be may be overbought.
• Earnings announcement expected in 68 days.

Expert Opinions on Maplebear

Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $42.333333333333336.

• An analyst from Piper Sandler has decided to maintain their Overweight rating on Maplebear, which currently sits at a price target of $45.
• Showing optimism, an analyst from Bernstein upgrades its rating to Outperform with a revised price target of $43.
• Consistent in their evaluation, an analyst from Wolfe Research keeps a Outperform rating on Maplebear with a target price of $39.

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 Maplebear options trades with real-time alerts from Benzinga Pro.