Deep-pocketed investors have adopted a bearish approach towards Enphase Energy ENPH, 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 ENPH 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 Enphase Energy. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 22% leaning bullish and 66% bearish. Among these notable options, 4 are puts, totaling $120,053, and 5 are calls, amounting to $246,981.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $107.0 to $200.0 for Enphase Energy over the recent three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Enphase Energy stands at 551.44, with a total volume reaching 467.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Enphase Energy, situated within the strike price corridor from $107.0 to $200.0, throughout the last 30 days.
Enphase Energy Option Activity Analysis: 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ENPH | CALL | SWEEP | BULLISH | 06/21/24 | $4.85 | $4.8 | $4.83 | $120.00 | $86.5K | 3.3K | 196 |
| ENPH | CALL | TRADE | BEARISH | 08/16/24 | $13.5 | $13.45 | $13.45 | $110.00 | $53.8K | 179 | 47 |
| ENPH | CALL | TRADE | BEARISH | 05/24/24 | $4.75 | $4.65 | $4.65 | $113.00 | $39.0K | 26 | 2 |
| ENPH | CALL | SWEEP | BEARISH | 05/10/24 | $3.85 | $3.75 | $3.75 | $108.00 | $38.2K | 45 | 109 |
| ENPH | PUT | TRADE | BEARISH | 09/20/24 | $91.25 | $89.25 | $91.25 | $200.00 | $36.5K | 0 | 0 |
About Enphase Energy
Enphase Energy is a global energy technology company. The company delivers smart, easy-to-use solutions that manage solar generation, storage, and communication on one platform. The company's microinverter technology primarily serves the rooftop solar market and produces a fully integrated solar-plus-storage solution. Geographically, it derives a majority of revenue from the United States.
After a thorough review of the options trading surrounding Enphase Energy, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Enphase Energy
- With a volume of 787,998, the price of ENPH is down -1.81% at $106.79.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 85 days.
Professional Analyst Ratings for Enphase Energy
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $129.2.
- In a cautious move, an analyst from Roth MKM downgraded its rating to Buy, setting a price target of $140.
- An analyst from B. Riley Securities has decided to maintain their Buy rating on Enphase Energy, which currently sits at a price target of $133.
- Maintaining their stance, an analyst from Canaccord Genuity continues to hold a Buy rating for Enphase Energy, targeting a price of $130.
- Maintaining their stance, an analyst from BMO Capital continues to hold a Market Perform rating for Enphase Energy, targeting a price of $113.
- An analyst from RBC Capital has decided to maintain their Outperform rating on Enphase Energy, which currently sits at a price target of $130.
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 Enphase Energy, Benzinga Pro gives you real-time options trades alerts.
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