Whales with a lot of money to spend have taken a noticeably bullish stance on Planet Fitness.
Looking at options history for Planet Fitness PLNT we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 62% of the investors opened trades with bullish expectations and 37% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $194,761 and 4, calls, for a total amount of $151,700.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $50.0 to $62.5 for Planet Fitness during the past quarter.
Analyzing 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 Planet Fitness's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Planet Fitness's significant trades, within a strike price range of $50.0 to $62.5, over the past month.
Planet Fitness Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| PLNT | CALL | SWEEP | BULLISH | 05/17/24 | $62.50 | $65.7K | 1.0K | 1.0K |
| PLNT | PUT | SWEEP | BEARISH | 05/17/24 | $55.00 | $62.0K | 506 | 1.1K |
| PLNT | PUT | SWEEP | BULLISH | 04/19/24 | $60.00 | $54.3K | 396 | 106 |
| PLNT | PUT | TRADE | BEARISH | 06/21/24 | $62.50 | $49.6K | 353 | 80 |
| PLNT | CALL | SWEEP | BULLISH | 04/19/24 | $57.50 | $31.0K | 143 | 83 |
About Planet Fitness
Planet Fitness Inc is a franchisor and operator of fitness centers in the United States. The company's reportable segments are Franchise, Corporate-owned stores, and Equipment. Franchise segment includes operations related to its franchising business in the United States, Puerto Rico, Canada, Panama, Mexico and Australia, Corporate-owned stores segment includes operations with respect to all corporate-owned stores throughout the United States and Canada, and The Equipment segment includes the sale of equipment to franchisee-owned stores in the U.S. The firm generates a majority of its revenue from the Corporate-owned stores segment.
Current Position of Planet Fitness
- Trading volume stands at 1,469,900, with PLNT's price up by 0.42%, positioned at $57.15.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 42 days.
What The Experts Say On Planet Fitness
4 market experts have recently issued ratings for this stock, with a consensus target price of $77.75.
- Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Planet Fitness with a target price of $79.
- An analyst from RBC Capital persists with their Outperform rating on Planet Fitness, maintaining a target price of $80.
- Maintaining their stance, an analyst from JP Morgan continues to hold a Neutral rating for Planet Fitness, targeting a price of $72.
- An analyst from Stifel persists with their Buy rating on Planet Fitness, maintaining a target price of $80.
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 Planet Fitness options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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