Deep-pocketed investors have adopted a bearish approach towards Sea SE, 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 SE usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 12 extraordinary options activities for Sea. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 33% leaning bullish and 66% bearish. Among these notable options, 4 are puts, totaling $540,349, and 8 are calls, amounting to $537,373.
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 $39.0 to $65.0 for Sea over the last 3 months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Sea stands at 3477.82, with a total volume reaching 10,682.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Sea, situated within the strike price corridor from $39.0 to $65.0, throughout the last 30 days.
Sea Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SE | PUT | TRADE | BULLISH | 09/20/24 | $2.38 | $2.29 | $2.3 | $40.00 | $230.0K | 94 | 1.0K |
| SE | PUT | SWEEP | BULLISH | 08/16/24 | $8.25 | $8.15 | $8.15 | $55.00 | $203.7K | 1.1K | 13 |
| SE | CALL | TRADE | BEARISH | 04/19/24 | $0.61 | $0.58 | $0.59 | $55.00 | $147.5K | 10.9K | 2.9K |
| SE | CALL | SWEEP | BEARISH | 06/20/25 | $10.3 | $10.15 | $10.15 | $65.00 | $92.3K | 11 | 100 |
| SE | CALL | SWEEP | BEARISH | 04/19/24 | $5.9 | $5.6 | $5.6 | $48.00 | $86.2K | 2.8K | 0 |
About Sea
Sea operates Southeast Asia's largest e-commerce company, Shopee, in terms of gross merchandise value and number of transactions. Sea started as a gaming business, Garena, but in 2015 expanded into e-commerce, which is now the main growth driver. Shopee is a hybrid C2C and B2C marketplace platform operating in eight core markets. Indonesia accounts for 35% of GMV, with the rest split mainly among Taiwan, Vietnam, Thailand, Malaysia, and the Philippines. For Garena, Free Fire was the most downloaded game in January 2022 and accounted for 74% of gaming revenue in 2021. Sea's third business, SeaMoney, provides mostly credit lending.
In light of the recent options history for Sea, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Sea Standing Right Now?
- With a volume of 2,279,701, the price of SE is down -1.13% at $52.68.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 29 days.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Sea, Benzinga Pro gives you real-time options trades alerts.
© 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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