High-rolling investors have positioned themselves bearish on Cognizant Tech Solns CTSH, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in CTSH often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 12 options trades for Cognizant Tech Solns. This is not a typical pattern.
The sentiment among these major traders is split, with 41% bullish and 58% bearish. Among all the options we identified, there was one put, amounting to $163,500, and 11 calls, totaling $673,945.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $65.0 and $90.0 for Cognizant Tech Solns, spanning the last three months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Cognizant Tech Solns's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Cognizant Tech Solns's whale trades within a strike price range from $65.0 to $90.0 in the last 30 days.
Cognizant Tech Solns 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CTSH | PUT | TRADE | BEARISH | 01/17/25 | $3.3 | $3.1 | $3.27 | $65.00 | $163.5K | 2.4K | 500 |
| CTSH | CALL | SWEEP | BULLISH | 07/19/24 | $1.85 | $1.75 | $1.8 | $70.00 | $129.7K | 2.5K | 1.4K |
| CTSH | CALL | SWEEP | BULLISH | 07/19/24 | $1.9 | $1.85 | $1.9 | $70.00 | $124.8K | 2.5K | 4.5K |
| CTSH | CALL | SWEEP | BULLISH | 07/19/24 | $1.85 | $1.8 | $1.8 | $70.00 | $107.1K | 2.5K | 3.1K |
| CTSH | CALL | SWEEP | BULLISH | 07/19/24 | $1.8 | $1.8 | $1.8 | $70.00 | $76.3K | 2.5K | 448 |
About Cognizant Tech Solns
Cognizant is a global IT services provider, offering consulting and outsourcing services to some of the world's largest enterprises spanning the financial services, media and communications, healthcare, natural resources, and consumer products industries. Cognizant employs nearly 300,000 people globally, roughly 70% of whom are in India, although the company's headquarters are in Teaneck, New Jersey.
Present Market Standing of Cognizant Tech Solns
- With a trading volume of 1,724,703, the price of CTSH is down by -2.66%, reaching $68.46.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 75 days from now.
What The Experts Say On Cognizant Tech Solns
5 market experts have recently issued ratings for this stock, with a consensus target price of $78.8.
- Reflecting concerns, an analyst from Wedbush lowers its rating to Outperform with a new price target of $85.
- Consistent in their evaluation, an analyst from BMO Capital keeps a Market Perform rating on Cognizant Tech Solns with a target price of $78.
- An analyst from JP Morgan has decided to maintain their Neutral rating on Cognizant Tech Solns, which currently sits at a price target of $74.
- An analyst from Citigroup persists with their Buy rating on Cognizant Tech Solns, maintaining a target price of $82.
- An analyst from Barclays persists with their Equal-Weight rating on Cognizant Tech Solns, maintaining a target price of $75.
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 Cognizant Tech Solns with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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