Deep-pocketed investors have adopted a bullish approach towards On Holding ONON, 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 ONON usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for On Holding. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 50% leaning bullish and 50% bearish. Among these notable options, 2 are puts, totaling $90,125, and 6 are calls, amounting to $282,553.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $39.0 to $50.0 for On Holding over the last 3 months.
Analyzing Volume & Open Interest
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 On Holding'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 On Holding's whale trades within a strike price range from $39.0 to $50.0 in the last 30 days.
On Holding Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ONON | PUT | SWEEP | BULLISH | 05/31/24 | $0.75 | $0.58 | $0.75 | $39.00 | $64.1K | 45 | 1.7K |
| ONON | CALL | TRADE | BEARISH | 01/16/26 | $8.1 | $7.8 | $7.8 | $45.00 | $62.4K | 542 | 80 |
| ONON | CALL | TRADE | BEARISH | 01/16/26 | $10.0 | $9.8 | $9.8 | $40.00 | $58.8K | 368 | 5 |
| ONON | CALL | SWEEP | BEARISH | 01/17/25 | $2.25 | $2.03 | $2.04 | $50.00 | $56.3K | 30.2K | 469 |
| ONON | CALL | SWEEP | BULLISH | 07/19/24 | $1.75 | $1.7 | $1.74 | $40.00 | $48.0K | 5.2K | 686 |
About On Holding
On Holding AG is a premium performance sports brand rooted in technology, design, and impact. Its shoe, apparel, and accessories products are designed primarily for athletic use, casual, or leisure purposes. It does not manufacture the products or the raw materials and rely instead on third-party suppliers and contract manufacturers.
After a thorough review of the options trading surrounding On Holding, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
On Holding's Current Market Status
- With a volume of 1,746,839, the price of ONON is up 1.52% at $38.99.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 81 days.
What Analysts Are Saying About On Holding
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $40.0.
- Consistent in their evaluation, an analyst from Needham keeps a Buy rating on On Holding with a target price of $45.
- Consistent in their evaluation, an analyst from Evercore ISI Group keeps a Outperform rating on On Holding with a target price of $43.
- An analyst from Morgan Stanley has decided to maintain their Overweight rating on On Holding, which currently sits at a price target of $35.
- An analyst from Barclays persists with their Overweight rating on On Holding, maintaining a target price of $40.
- Maintaining their stance, an analyst from Telsey Advisory Group continues to hold a Outperform rating for On Holding, targeting a price of $37.
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 On Holding, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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