Investors with a lot of money to spend have taken a bullish stance on GigaCloud Tech GCT.
And retail traders should know.
We noticed this today when the positions 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 GCT, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 8 options trades for GigaCloud Tech.
This isn't normal.
The overall sentiment of these big-money traders is split between 62% bullish and 37%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $29,500, and 7, calls, for a total amount of $424,887.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $35.0 and $50.0 for GigaCloud Tech, spanning the last three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of GigaCloud Tech stands at 1758.33, with a total volume reaching 7,534.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in GigaCloud Tech, situated within the strike price corridor from $35.0 to $50.0, throughout the last 30 days.
GigaCloud Tech 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GCT | CALL | SWEEP | BULLISH | 04/19/24 | $3.8 | $3.3 | $3.6 | $35.00 | $105.3K | 4.4K | 1.9K |
| GCT | CALL | TRADE | BULLISH | 04/19/24 | $3.4 | $3.3 | $3.4 | $35.00 | $102.0K | 4.4K | 1.6K |
| GCT | CALL | TRADE | BULLISH | 04/19/24 | $2.9 | $2.65 | $2.9 | $35.00 | $55.9K | 4.4K | 1.3K |
| GCT | CALL | TRADE | NEUTRAL | 04/19/24 | $2.3 | $1.9 | $2.1 | $35.00 | $52.2K | 4.4K | 789 |
| GCT | CALL | TRADE | BEARISH | 05/17/24 | $1.55 | $1.4 | $1.4 | $50.00 | $42.0K | 513 | 864 |
About GigaCloud Tech
GigaCloud Technology Inc end-to-end B2B e-commerce solutions for large parcel merchandise. Its B2B e-commerce platform, which is referred to as the GigaCloud Marketplace, integrates everything from discovery, payments, and logistics tools into one easy-to-use platform. It offers online and offline integrated cross-border transaction and delivery services for furniture and large merchandise. Its marketplace seamlessly connects manufacturers in Asia, with resellers in the U.S., Asia, and Europe, to execute cross-border transactions with confidence, speed, and efficiency. It offers a truly comprehensive solution that transports products from the manufacturer's warehouse to end customers, all at one fixed price.
Following our analysis of the options activities associated with GigaCloud Tech, we pivot to a closer look at the company's own performance.
GigaCloud Tech's Current Market Status
- Trading volume stands at 3,200,662, with GCT's price up by 0.11%, positioned at $35.0.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 34 days.
Professional Analyst Ratings for GigaCloud Tech
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $35.0.
- An analyst from Roth MKM persists with their Buy rating on GigaCloud Tech, maintaining a target price of $35.
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 GigaCloud Tech 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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