A Closer Look at Paycom Software's Options Market Dynamics

Investors with significant funds have taken a bullish position in Paycom Software PAYC, a development that retail traders should be aware of.

This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in PAYC usually indicates foreknowledge of upcoming events.

Today, Benzinga's options scanner identified 11 options transactions for Paycom Software. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 45% being bullish and 36% bearish. Of all the options we discovered, 10 are puts, valued at $976,877, and there was a single call, worth $35,800.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $125.0 to $190.0 for Paycom Software over the last 3 months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Paycom Software stands at 133.0, with a total volume reaching 829.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Paycom Software, situated within the strike price corridor from $125.0 to $190.0, throughout the last 30 days.

Paycom Software Option Activity Analysis: 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
PAYC PUT SWEEP BULLISH 01/17/25 $49.5 $47.7 $47.7 $190.00 $214.6K 207 163
PAYC PUT SWEEP BULLISH 01/17/25 $47.8 $44.6 $47.7 $190.00 $124.0K 207 71
PAYC PUT SWEEP BEARISH 01/17/25 $47.4 $44.0 $47.4 $190.00 $123.2K 207 0
PAYC PUT SWEEP BEARISH 01/17/25 $47.9 $46.5 $47.9 $190.00 $114.9K 207 95
PAYC PUT SWEEP BEARISH 01/17/25 $47.8 $47.8 $47.8 $190.00 $109.9K 207 95

About Paycom Software

Paycom is a fast-growing provider of payroll and human capital management software primarily targeting clients with 50-10,000 employees in the United States. Paycom was established in 1998 and services about 19,500 clients as of 2023, based on parent company grouping. Alongside its core payroll software, Paycom offers various HCM add-on modules, including time and attendance, talent management, and benefits administration.

Where Is Paycom Software Standing Right Now?

  • Trading volume stands at 1,204,178, with PAYC's price down by -2.49%, positioned at $155.0.
  • RSI indicators show the stock to be may be oversold.
  • Earnings announcement expected in 60 days.

Expert Opinions on Paycom Software

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $182.4.

  • An analyst from JP Morgan persists with their Neutral rating on Paycom Software, maintaining a target price of $175.
  • Consistent in their evaluation, an analyst from Citigroup keeps a Neutral rating on Paycom Software with a target price of $193.
  • Maintaining their stance, an analyst from Mizuho continues to hold a Neutral rating for Paycom Software, targeting a price of $170.
  • Maintaining their stance, an analyst from Barclays continues to hold a Equal-Weight rating for Paycom Software, targeting a price of $184.
  • An analyst from BMO Capital persists with their Market Perform rating on Paycom Software, maintaining a target price of $190.

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 Paycom Software, Benzinga Pro gives you real-time options trades alerts.

Market News and Data brought to you by Benzinga APIs
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Posted In: OptionsMarketsBZI-UOA
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