Investors with a lot of money to spend have taken a bearish stance on Chewy (NYSE:CHWY).

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 CHWY, 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 10 uncommon options trades for Chewy.

This isn't normal.

The overall sentiment of these big-money traders is split between 20% bullish and 50%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $84,682, and 7 are calls, for a total amount of $394,413.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $15.0 to $70.0 for Chewy during the past quarter.

Volume & Open Interest Development

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Chewy's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Chewy's significant trades, within a strike price range of $15.0 to $70.0, over the past month.

Chewy Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

About Chewy

Chewy's Current Market Status

• Currently trading with a volume of 4,835,644, the CHWY's price is down by -1.63%, now at $15.35.
• RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
• Anticipated earnings release is in 35 days.

What Analysts Are Saying About Chewy

1 market experts have recently issued ratings for this stock, with a consensus target price of $16.0.

• Consistent in their evaluation, an analyst from Piper Sandler keeps a Neutral rating on Chewy with a target price of $16.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Chewy with Benzinga Pro for real-time alerts.