High-rolling investors have positioned themselves bearish on SoundHound AI SOUN, 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 SOUN often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 10 options trades for SoundHound AI. This is not a typical pattern.
The sentiment among these major traders is split, with 30% bullish and 70% bearish. Among all the options we identified, there was one put, amounting to $96,000, and 9 calls, totaling $420,639.
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Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $5.0 and $12.0 for SoundHound AI, spanning the last three months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for SoundHound AI'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 SoundHound AI's whale trades within a strike price range from $5.0 to $12.0 in the last 30 days.
SoundHound AI 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SOUN | CALL | TRADE | BEARISH | 05/17/24 | $7.00 | $96.5K | 1.7K | 2.3K |
| SOUN | PUT | SWEEP | BEARISH | 04/05/24 | $9.00 | $96.0K | 516 | 300 |
| SOUN | CALL | SWEEP | BULLISH | 04/05/24 | $8.00 | $63.3K | 4.0K | 3.4K |
| SOUN | CALL | TRADE | BEARISH | 05/17/24 | $7.00 | $50.0K | 1.7K | 1.2K |
| SOUN | CALL | TRADE | BEARISH | 05/17/24 | $7.00 | $50.0K | 1.7K | 763 |
About SoundHound AI
SoundHound AI Inc is an innovator of conversational intelligence, offering an independent Voice AI platform that enables businesses across industries to deliver high-quality conversational experiences to customers.
After a thorough review of the options trading surrounding SoundHound AI, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is SoundHound AI Standing Right Now?
- Trading volume stands at 47,879,259, with SOUN's price up by 4.1%, positioned at $6.1.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 44 days.
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 SoundHound AI options trades with real-time alerts from Benzinga Pro.
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