Investors with a lot of money to spend have taken a bearish stance on Enovix ENVX.
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with ENVX, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 9 options trades for Enovix.
This isn't normal.
The overall sentiment of these big-money traders is split between 44% bullish and 55%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $45,750, and 8, calls, for a total amount of $383,760.
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 $5.0 to $15.0 for Enovix over the last 3 months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Enovix stands at 4781.25, with a total volume reaching 4,126.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Enovix, situated within the strike price corridor from $5.0 to $15.0, throughout the last 30 days.
Enovix Option Volume And Open Interest Over 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ENVX | CALL | TRADE | BEARISH | 01/16/26 | $7.4 | $7.25 | $7.25 | $5.00 | $109.4K | 1.4K | 400 |
| ENVX | CALL | TRADE | BEARISH | 01/16/26 | $8.2 | $7.2 | $7.2 | $5.00 | $72.0K | 1.4K | 100 |
| ENVX | PUT | SWEEP | BULLISH | 01/16/26 | $3.5 | $3.1 | $3.05 | $8.00 | $45.7K | 2.7K | 150 |
| ENVX | CALL | TRADE | BULLISH | 01/16/26 | $4.3 | $3.3 | $4.2 | $15.00 | $39.4K | 9.4K | 239 |
| ENVX | CALL | TRADE | BEARISH | 01/16/26 | $4.35 | $3.9 | $4.05 | $15.00 | $38.8K | 9.4K | 145 |
About Enovix
Enovix Corp is engaged in the business of advanced silicon-anode lithium-ion battery development and production. It is also developing its 3D cell technology and production process for the electric vehicle and energy storage markets to help enable the widespread utilization of renewable energy.
Having examined the options trading patterns of Enovix, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Enovix's Current Market Status
- With a trading volume of 3,513,212, the price of ENVX is up by 8.48%, reaching $10.43.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 61 days from now.
Expert Opinions on Enovix
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $19.4.
- Consistent in their evaluation, an analyst from Craig-Hallum keeps a Buy rating on Enovix with a target price of $15.
- An analyst from B. Riley Securities persists with their Buy rating on Enovix, maintaining a target price of $16.
- Maintaining their stance, an analyst from EF Hutton continues to hold a Buy rating for Enovix, targeting a price of $24.
- An analyst from JP Morgan persists with their Overweight rating on Enovix, maintaining a target price of $12.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $30.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Enovix options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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