A Closer Look at Canopy Gwth's Options Market Dynamics

Financial giants have made a conspicuous bearish move on Canopy Gwth. Our analysis of options history for Canopy Gwth CGC revealed 23 unusual trades.

Delving into the details, we found 39% of traders were bullish, while 52% showed bearish tendencies. Out of all the trades we spotted, 12 were puts, with a value of $1,232,383, and 11 were calls, valued at $549,815.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $8.0 to $28.0 for Canopy Gwth over the recent three months.

Analyzing Volume & Open Interest

In today's trading context, the average open interest for options of Canopy Gwth stands at 2738.08, with a total volume reaching 11,868.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Canopy Gwth, situated within the strike price corridor from $8.0 to $28.0, throughout the last 30 days.

Canopy Gwth 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
CGC PUT SWEEP BULLISH 01/17/25 $5.35 $4.85 $4.85 $10.00 $426.8K 246 1.0K
CGC PUT SWEEP BULLISH 07/19/24 $3.1 $3.05 $3.05 $10.00 $197.9K 849 1.9K
CGC PUT SWEEP BULLISH 07/19/24 $3.35 $3.05 $3.05 $10.00 $159.2K 849 1.9K
CGC CALL SWEEP BULLISH 01/17/25 $1.54 $1.45 $1.55 $10.00 $139.5K 2.2K 125
CGC PUT SWEEP NEUTRAL 07/19/24 $3.15 $3.1 $3.1 $10.00 $120.1K 849 120

About Canopy Gwth

Canopy Growth, headquartered in Smiths Falls, Canada, cultivates and sells medicinal and recreational cannabis, and hemp, through a portfolio of brands that include Doja, 7ACRES, Tweed, and Deep Space. Its non-THC products include skincare products under Martha Stewart CBD and Storz & Bickel vaporizers. Canopy growth is attempting to merge its U.S. assets into a separately operated holding company, Canopy USA, which will not be consolidated into the Canadian company's financials.

Current Position of Canopy Gwth

  • With a trading volume of 5,322,531, the price of CGC is down by -4.54%, reaching $9.05.
  • Current RSI values indicate that the stock is may be approaching overbought.
  • Next earnings report is scheduled for 43 days from now.

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 Canopy Gwth with Benzinga Pro for real-time alerts.

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Posted In: OptionsMarketsBZI-UOA
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