Looking At Globe Life's Recent Unusual Options Activity

Deep-pocketed investors have adopted a bearish approach towards Globe Life GL, 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 GL usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for Globe Life. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 40% leaning bullish and 60% bearish. Among these notable options, 4 are puts, totaling $125,662, and 6 are calls, amounting to $312,205.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $85.0 and $115.0 for Globe Life, spanning the last three months.

Analyzing Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Globe Life's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Globe Life's substantial trades, within a strike price spectrum from $85.0 to $115.0 over the preceding 30 days.

Globe Life Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
GL CALL SWEEP BEARISH 01/17/25 $4.9 $4.5 $4.5 $105.00 $81.0K 236 191
GL CALL SWEEP BEARISH 05/17/24 $1.15 $1.1 $1.15 $90.00 $73.5K 3.0K 113
GL CALL SWEEP BULLISH 01/17/25 $3.0 $2.4 $3.0 $115.00 $60.0K 10 0
GL PUT TRADE BEARISH 06/28/24 $4.0 $3.6 $4.0 $85.00 $40.0K 0 0
GL CALL SWEEP BULLISH 05/24/24 $0.65 $0.65 $0.65 $95.00 $39.1K 156 531

About Globe Life

Globe Life Inc is an insurance holding company. It provides a variety of life and supplemental health insurance products and annuities to a broad base of customers. The company's core operations are organized into four reportable segments: life insurance, supplemental health insurance, annuities, and investments. Investment activities, conducted by the investment segment, focus on seeking investments with a yield and term appropriate to support the insurance product obligations. These investments generally consist of fixed maturities and, over the long term, the expected yields are considered when setting insurance premium rates and product profitability expectations.

Having examined the options trading patterns of Globe Life, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Present Market Standing of Globe Life

  • Trading volume stands at 1,159,003, with GL's price up by 0.73%, positioned at $87.51.
  • RSI indicators show the stock to be may be overbought.
  • Earnings announcement expected in 75 days.

What Analysts Are Saying About Globe Life

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $104.4.

  • An analyst from Keefe, Bruyette & Woods upgraded its action to Outperform with a price target of $110.
  • Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Globe Life, targeting a price of $132.
  • Maintaining their stance, an analyst from Truist Securities continues to hold a Hold rating for Globe Life, targeting a price of $125.
  • An analyst from Truist Securities has decided to maintain their Hold rating on Globe Life, which currently sits at a price target of $80.
  • Maintaining their stance, an analyst from Evercore ISI Group continues to hold a In-Line rating for Globe Life, targeting a price of $75.

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 Globe Life, Benzinga Pro gives you real-time options trades alerts.

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Posted In: OptionsMarketsBZI-UOA
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