GitLab's Options: A Look at What the Big Money is Thinking

High-rolling investors have positioned themselves bullish on GitLab GTLB, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in GTLB often signals that someone has privileged information.

Today, Benzinga's options scanner spotted 16 options trades for GitLab. This is not a typical pattern.

The sentiment among these major traders is split, with 75% bullish and 25% bearish. Among all the options we identified, there was one put, amounting to $39,400, and 15 calls, totaling $1,570,917.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $60.0 to $110.0 for GitLab over the last 3 months.

Analyzing Volume & Open Interest

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for GitLab's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of GitLab's whale activity within a strike price range from $60.0 to $110.0 in the last 30 days.

GitLab Call and Put Volume: 30-Day Overview

Significant Options Trades Detected:

About GitLab

GitLab Inc operates on an all-remote model. The company is a technology company whose primary offering is GitLab, a complete DevOps platform delivered as a single application. GitLab is used by a wide range of organizations. The company also provides related training and professional services. GitLab is offered on both self-managed and software-as-a-service (SaaS) models. The principal markets for GitLab are currently located in the United States, Europe, and Asia Pacific. The company is focused on accelerating innovation and broadening the distribution of its platform to companies across the world.

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

Present Market Standing of GitLab

• Trading volume stands at 586,135, with GTLB's price up by 1.63%, positioned at $58.15.
• RSI indicators show the stock to be is currently neutral between overbought and oversold.
• Earnings announcement expected in 74 days.

Professional Analyst Ratings for GitLab

In the last month, 5 experts released ratings on this stock with an average target price of $72.6.

• Maintaining their stance, an analyst from Bernstein continues to hold a Outperform rating for GitLab, targeting a price of $74.
• Maintaining their stance, an analyst from DA Davidson continues to hold a Neutral rating for GitLab, targeting a price of $65.
• An analyst from Canaccord Genuity has revised its rating downward to Buy, adjusting the price target to $74.
• An analyst from UBS has decided to maintain their Buy rating on GitLab, which currently sits at a price target of $75.
• An analyst from Mizuho persists with their Buy rating on GitLab, maintaining a target price of $75.

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 GitLab with Benzinga Pro for real-time alerts.