Unpacking the Latest Options Trading Trends in Dick's Sporting Goods

High-rolling investors have positioned themselves bearish on Dick's Sporting Goods DKS, 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 DKS often signals that someone has privileged information.

Today, Benzinga's options scanner spotted 12 options trades for Dick's Sporting Goods. This is not a typical pattern.

The sentiment among these major traders is split, with 16% bullish and 83% bearish. Among all the options we identified, there was one put, amounting to $42,840, and 11 calls, totaling $572,518.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $160.0 to $270.0 for Dick's Sporting Goods over the recent three months.

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 Dick's Sporting Goods's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Dick's Sporting Goods's substantial trades, within a strike price spectrum from $160.0 to $270.0 over the preceding 30 days.

Dick's Sporting Goods Option Volume And Open Interest Over Last 30 Days

Noteworthy Options Activity:

About Dick's Sporting Goods

Dick's Sporting Goods retails athletic apparel, footwear, and equipment for sports. Dick's operates digital platforms, about 725 stores under its namesake brand (including outlet stores), and about 135 specialty stores under the Golf Galaxy, Moosejaw, and Public Lands nameplates. Dick's carries private-label merchandise and national brands such as Nike, The North Face, Under Armour, Callaway Golf, and TaylorMade. Based in the Pittsburgh area, Dick's was founded in 1948 by the father of current executive chairman and controlling shareholder Edward Stack.

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

Dick's Sporting Goods's Current Market Status

• With a volume of 893,527, the price of DKS is up 0.11% at $221.48.
• RSI indicators hint that the underlying stock may be overbought.
• Next earnings are expected to be released in 57 days.

Professional Analyst Ratings for Dick's Sporting Goods

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $218.2.

• Consistent in their evaluation, an analyst from Telsey Advisory Group keeps a Outperform rating on Dick's Sporting Goods with a target price of $195.
• Consistent in their evaluation, an analyst from UBS keeps a Neutral rating on Dick's Sporting Goods with a target price of $215.
• An analyst from Goldman Sachs persists with their Buy rating on Dick's Sporting Goods, maintaining a target price of $247.
• An analyst from Barclays has decided to maintain their Overweight rating on Dick's Sporting Goods, which currently sits at a price target of $194.
• Consistent in their evaluation, an analyst from Oppenheimer keeps a Outperform rating on Dick's Sporting Goods with a target price of $240.

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 Dick's Sporting Goods options trades with real-time alerts from Benzinga Pro.