Smart Money Is Betting Big In ENVX Options

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Investors with a lot of money to spend have taken a bullish stance on Enovix ENVX.

And retail traders should know.

We noticed this today when the trades 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.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 17 uncommon options trades for Enovix.

This isn't normal.

The overall sentiment of these big-money traders is split between 52% bullish and 41%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $324,575, and 12 are calls, for a total amount of $641,283.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $9.0 to $20.0 for Enovix over the recent three months.

Volume & Open Interest Development

In today's trading context, the average open interest for options of Enovix stands at 5007.18, with a total volume reaching 8,060.00. 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 $9.0 to $20.0, throughout the last 30 days.

Enovix 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
ENVX PUT SWEEP BULLISH 09/20/24 $4.3 $4.15 $4.15 $14.00 $106.2K 204 4
ENVX CALL TRADE BEARISH 01/17/25 $3.25 $3.15 $3.16 $12.50 $94.8K 10.5K 1.0K
ENVX CALL SWEEP BULLISH 01/17/25 $3.15 $3.0 $3.14 $12.50 $93.8K 10.5K 419
ENVX PUT SWEEP BULLISH 01/17/25 $4.1 $4.0 $4.0 $12.50 $90.8K 10.1K 230
ENVX CALL SWEEP BEARISH 10/18/24 $3.25 $3.2 $3.2 $9.00 $78.1K 1.1K 245

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

Present Market Standing of Enovix

  • With a volume of 5,569,754, the price of ENVX is up 10.02% at $11.53.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 44 days.

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.

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