Investors with a lot of money to spend have taken a bearish stance on Academy Sports ASO.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with ASO, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 8 uncommon options trades for Academy Sports.
This isn't normal.
The overall sentiment of these big-money traders is split between 25% bullish and 75%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $314,905, and 3 are calls, for a total amount of $108,270.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $60.0 and $70.0 for Academy Sports, spanning the last three months.
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 Academy Sports's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Academy Sports's significant trades, within a strike price range of $60.0 to $70.0, over the past month.
Academy Sports 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ASO | PUT | SWEEP | BEARISH | 09/20/24 | $4.7 | $4.5 | $4.6 | $60.00 | $87.3K | 29 | 434 |
| ASO | PUT | SWEEP | BEARISH | 05/17/24 | $2.5 | $2.35 | $2.45 | $62.50 | $85.5K | 167 | 365 |
| ASO | PUT | SWEEP | BEARISH | 09/20/24 | $4.7 | $4.5 | $4.6 | $60.00 | $71.3K | 29 | 215 |
| ASO | CALL | SWEEP | BULLISH | 09/20/24 | $6.8 | $6.7 | $6.7 | $65.00 | $42.2K | 30 | 106 |
| ASO | PUT | SWEEP | BEARISH | 09/20/24 | $4.7 | $4.6 | $4.6 | $60.00 | $40.9K | 29 | 46 |
About Academy Sports
Academy Sports and Outdoors Inc is engaged in the retail business of sporting goods and outdoor recreation products. The product categories of the company are outdoors, apparel, sports & recreation, and footwear.
After a thorough review of the options trading surrounding Academy Sports, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Academy Sports's Current Market Status
- Trading volume stands at 240,502, with ASO's price down by -0.81%, positioned at $62.77.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 62 days.
Expert Opinions on Academy Sports
In the last month, 5 experts released ratings on this stock with an average target price of $78.6.
- An analyst from Truist Securities persists with their Buy rating on Academy Sports, maintaining a target price of $75.
- An analyst from Wells Fargo persists with their Overweight rating on Academy Sports, maintaining a target price of $83.
- An analyst from B. Riley Securities has revised its rating downward to Buy, adjusting the price target to $72.
- An analyst from Wells Fargo persists with their Overweight rating on Academy Sports, maintaining a target price of $88.
- Maintaining their stance, an analyst from Telsey Advisory Group continues to hold a Outperform rating for Academy Sports, targeting a price of $75.
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 Academy Sports 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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