Looking At SL Green Realty's Recent Unusual Options Activity

Investors with significant funds have taken a bearish position in SL Green Realty SLG, a development that retail traders should be aware of.

This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in SLG usually indicates foreknowledge of upcoming events.

Today, Benzinga's options scanner identified 10 options transactions for SL Green Realty. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 20% being bullish and 80% bearish. Of all the options we discovered, 9 are puts, valued at $537,333, and there was a single call, worth $39,060.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $47.5 to $55.0 for SL Green Realty over the last 3 months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of SL Green Realty stands at 101.67, with a total volume reaching 11,202.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in SL Green Realty, situated within the strike price corridor from $47.5 to $55.0, throughout the last 30 days.

SL Green Realty Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

About SL Green Realty

SL Green Realty is one of the largest Manhattan property owners and landlords, with interest in around 33 million square feet of wholly owned and joint-venture office space. The company has additional property exposure through its limited portfolio of well-located retail space. It operates as a real estate investment trust.

In light of the recent options history for SL Green Realty, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Current Position of SL Green Realty

• Currently trading with a volume of 693,285, the SLG's price is up by 0.65%, now at $52.91.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 22 days.

Expert Opinions on SL Green Realty

A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $51.0.

• An analyst from Evercore ISI Group has revised its rating downward to Underperform, adjusting the price target to $44.
• Consistent in their evaluation, an analyst from Piper Sandler keeps a Overweight rating on SL Green Realty with a target price of $58.

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 SL Green Realty options trades with real-time alerts from Benzinga Pro.