Investors with a lot of money to spend have taken a bearish stance on SL Green Realty SLG.
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 SLG, 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 29 uncommon options trades for SL Green Realty.
This isn't normal.
The overall sentiment of these big-money traders is split between 24% bullish and 75%, bearish.
Out of all of the special options we uncovered, 27 are puts, for a total amount of $1,608,027, and 2 are calls, for a total amount of $113,150.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $45.0 to $60.0 for SL Green Realty over the last 3 months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of SL Green Realty stands at 731.0, with a total volume reaching 28,073.00. 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 $45.0 to $60.0, throughout the last 30 days.
SL Green Realty Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SLG | PUT | SWEEP | BEARISH | 06/21/24 | $7.9 | $7.5 | $7.8 | $55.00 | $179.4K | 1.5K | 1.6K |
| SLG | PUT | SWEEP | BEARISH | 06/21/24 | $6.8 | $6.4 | $6.8 | $55.00 | $174.1K | 1.5K | 178 |
| SLG | PUT | SWEEP | BEARISH | 06/21/24 | $7.9 | $6.9 | $7.9 | $55.00 | $109.0K | 1.5K | 1.8K |
| SLG | CALL | TRADE | BULLISH | 01/17/25 | $12.4 | $11.5 | $12.25 | $45.00 | $85.7K | 792 | 0 |
| SLG | PUT | SWEEP | BEARISH | 06/21/24 | $7.8 | $6.6 | $7.8 | $55.00 | $83.4K | 1.5K | 1.5K |
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.
Following our analysis of the options activities associated with SL Green Realty, we pivot to a closer look at the company's own performance.
Current Position of SL Green Realty
- With a trading volume of 589,909, the price of SLG is down by -5.14%, reaching $52.2.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 7 days from now.
What The Experts Say On SL Green Realty
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $48.0.
- An analyst from Barclays upgraded its action to Equal-Weight with a price target of $48.
- Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for SL Green Realty, targeting a price of $58.
- An analyst from Evercore ISI Group has revised its rating downward to Underperform, adjusting the price target to $44.
- Maintaining their stance, an analyst from Scotiabank continues to hold a Sector Underperform rating for SL Green Realty, targeting a price of $43.
- An analyst from Morgan Stanley persists with their Equal-Weight rating on SL Green Realty, maintaining a target price of $47.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
