Check Out What Whales Are Doing With HSY

Deep-pocketed investors have adopted a bearish approach towards Hershey HSY, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in HSY usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 14 extraordinary options activities for Hershey. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 35% leaning bullish and 64% bearish. Among these notable options, 10 are puts, totaling $1,493,990, and 4 are calls, amounting to $131,389.

Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $175.0 to $210.0 for Hershey during the past quarter.

Analyzing Volume & Open Interest

In today's trading context, the average open interest for options of Hershey stands at 811.92, with a total volume reaching 4,168.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Hershey, situated within the strike price corridor from $175.0 to $210.0, throughout the last 30 days.

Hershey Call and Put Volume: 30-Day Overview

Significant Options Trades Detected:

About Hershey

Hershey is a leading confectionery manufacturer in the US (around a $25 billion market), controlling around 36% of the domestic chocolate space (per Euromonitor). Beyond its namesake label, the firm's mix has expanded over the last 85 years and now consists of 100 brands, including Reese's, Kit Kat, Kisses, and Ice Breakers. Hershey's products are sold in about 80 countries, albeit with just a high-single-digit percentage of sales coming from markets outside the US, including Brazil, India, and Mexico. The firm has sought inorganic opportunities to extend its reach beyond its core confection business, adding Amplify Snack Brands and its Skinny Pop ready-to-eat popcorn to its mix, Pirate Brands, and Dot's Pretzels over the past few years.

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

Hershey's Current Market Status

• Currently trading with a volume of 1,051,366, the HSY's price is down by -0.07%, now at $197.85.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 31 days.

Expert Opinions on Hershey

A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $213.0.

• Reflecting concerns, an analyst from RBC Capital lowers its rating to Sector Perform with a new price target of $213.

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 Hershey with Benzinga Pro for real-time alerts.