Deep-pocketed investors have adopted a bearish approach towards Futu Hldgs FUTU, 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 FUTU usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Futu Hldgs. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 37% leaning bullish and 62% bearish. Among these notable options, 3 are puts, totaling $108,530, and 5 are calls, amounting to $248,655.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $45.0 to $55.0 for Futu Hldgs during the past quarter.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Futu Hldgs stands at 309.6, with a total volume reaching 1,112.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Futu Hldgs, situated within the strike price corridor from $45.0 to $55.0, throughout the last 30 days.
Futu Hldgs 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| FUTU | CALL | TRADE | BEARISH | 05/17/24 | $10.95 | $10.4 | $10.55 | $45.00 | $83.3K | 147 | 21 |
| FUTU | CALL | SWEEP | BULLISH | 05/24/24 | $6.4 | $6.25 | $6.4 | $50.00 | $56.3K | 0 | 88 |
| FUTU | PUT | SWEEP | BEARISH | 11/15/24 | $5.4 | $5.3 | $5.35 | $50.00 | $52.4K | 391 | 2 |
| FUTU | CALL | SWEEP | BULLISH | 05/24/24 | $6.3 | $6.25 | $6.3 | $50.00 | $44.1K | 0 | 221 |
| FUTU | CALL | SWEEP | BEARISH | 05/24/24 | $7.6 | $6.3 | $6.3 | $50.00 | $33.3K | 0 | 143 |
About Futu Hldgs
Futu Holdings Ltd is an online broker providing one-stop online investing services. The company provides its services through its digital platform Futu NiuNiu, which includes market data, trading service, and news feed of Hong Kong, Mainland China, Singapore, and United States equity markets. It generates its revenue in the form of brokerage commission and handling charge services.
Following our analysis of the options activities associated with Futu Hldgs, we pivot to a closer look at the company's own performance.
Where Is Futu Hldgs Standing Right Now?
- With a volume of 927,474, the price of FUTU is down -3.33% at $54.9.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 36 days.
Expert Opinions on Futu Hldgs
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $65.0.
- An analyst from CLSA upgraded its action to Outperform with a price target of $65.
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 Futu Hldgs, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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