Investors with a lot of money to spend have taken a bearish stance on GitLab GTLB.
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 GTLB, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 9 options trades for GitLab.
This isn't normal.
The overall sentiment of these big-money traders is split between 22% bullish and 44%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $51,400, and 8, calls, for a total amount of $259,154.
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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 $45.0 to $75.0 for GitLab over the last 3 months.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for GitLab's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across GitLab's significant trades, within a strike price range of $45.0 to $75.0, over the past month.
GitLab Option Activity Analysis: 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GTLB | PUT | SWEEP | BEARISH | 10/18/24 | $25.9 | $25.7 | $25.7 | $75.00 | $51.4K | 20 | 0 |
| GTLB | CALL | TRADE | NEUTRAL | 07/12/24 | $4.9 | $4.6 | $4.73 | $45.00 | $47.3K | 207 | 0 |
| GTLB | CALL | SWEEP | NEUTRAL | 06/28/24 | $3.5 | $3.2 | $3.35 | $46.00 | $33.5K | 792 | 38 |
| GTLB | CALL | TRADE | BULLISH | 06/28/24 | $3.6 | $3.3 | $3.5 | $46.00 | $33.2K | 792 | 168 |
| GTLB | CALL | SWEEP | BEARISH | 01/17/25 | $7.0 | $6.7 | $6.9 | $55.00 | $32.4K | 629 | 3 |
About GitLab
GitLab Inc operates on an all-remote model. GitLab, a complete DevSecOps platform delivered as a single application. It operates in two competitive landscapes: DevOps point solutions and DevOps platforms. In terms of point solutions that are stitched together, GitLab's offering is substantially different in that it is one platform, one codebase, one interface, and a unified data model that spans the entire DevSecOps lifecycle. DevOps platforms, the principal competitor is Microsoft Corporation following their acquisition of GitHub. GitLab is offered on both self-managed and software-as-a-service (SaaS) models. It is located in the United States, Europe, and Asia Pacific. It focused on accelerating innovation and broadening the distribution of its platform to companies across the world.
Following our analysis of the options activities associated with GitLab, we pivot to a closer look at the company's own performance.
Present Market Standing of GitLab
- With a trading volume of 1,125,125, the price of GTLB is down by -1.05%, reaching $48.05.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 68 days from now.
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 GitLab with Benzinga Pro for real-time alerts.
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