Deep-pocketed investors have adopted a bullish approach towards Ferrari RACE, 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 RACE usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for Ferrari. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 55% leaning bullish and 44% bearish. Among these notable options, 5 are puts, totaling $212,680, and 4 are calls, amounting to $672,012.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $145.0 to $520.0 for Ferrari over the recent three months.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Ferrari's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Ferrari's substantial trades, within a strike price spectrum from $145.0 to $520.0 over the preceding 30 days.
Ferrari Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RACE | CALL | SWEEP | BULLISH | 06/21/24 | $211.7 | $209.5 | $209.5 | $200.00 | $523.7K | 0 | 25 |
| RACE | CALL | SWEEP | BULLISH | 06/21/24 | $161.5 | $159.9 | $160.6 | $250.00 | $96.3K | 3 | 0 |
| RACE | PUT | TRADE | BULLISH | 05/17/24 | $111.3 | $109.7 | $109.7 | $520.00 | $65.8K | 0 | 0 |
| RACE | PUT | TRADE | BULLISH | 05/17/24 | $90.6 | $89.6 | $89.6 | $500.00 | $53.7K | 0 | 6 |
| RACE | PUT | SWEEP | BEARISH | 11/15/24 | $29.6 | $28.6 | $29.6 | $410.00 | $32.5K | 8 | 11 |
About Ferrari
Ferrari engineers and manufactures some of the world's most expensive exotic sports cars. The Ferrari brand is synonymous with Formula One racing, exclusivity, Italian design, and state-of-the-art technology. Ferrari also has a captive finance company that provides funding for dealers and clients. In 2023, Europe, Middle East, and Africa accounted for 48% of revenue, the Americas was 30%, China was 10%, and the rest of Asia was 12%.
Having examined the options trading patterns of Ferrari, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Ferrari's Current Market Status
- Currently trading with a volume of 178,946, the RACE's price is down by -0.01%, now at $406.02.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 15 days.
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 Ferrari options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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