Deep-pocketed investors have adopted a bullish approach towards WESCO Intl WCC, 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 WCC usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for WESCO Intl. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 44% leaning bullish and 22% bearish. Among these notable options, 2 are puts, totaling $62,594, and 7 are calls, amounting to $349,237.
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What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $170.0 and $180.0 for WESCO Intl, spanning the last three months.
Insights into Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in WESCO Intl's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to WESCO Intl's substantial trades, within a strike price spectrum from $170.0 to $180.0 over the preceding 30 days.
WESCO Intl Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WCC | CALL | SWEEP | NEUTRAL | 01/17/25 | $20.5 | $20.4 | $20.46 | $180.00 | $122.6K | 180 | 215 |
| WCC | CALL | SWEEP | NEUTRAL | 08/16/24 | $10.8 | $10.2 | $10.53 | $175.00 | $52.5K | 419 | 22 |
| WCC | CALL | SWEEP | BULLISH | 01/17/25 | $20.5 | $20.2 | $20.36 | $180.00 | $44.8K | 180 | 34 |
| WCC | CALL | SWEEP | BULLISH | 08/16/24 | $11.6 | $11.2 | $11.6 | $175.00 | $40.6K | 419 | 535 |
| WCC | PUT | SWEEP | BULLISH | 08/16/24 | $7.6 | $7.0 | $7.0 | $170.00 | $35.0K | 150 | 57 |
About WESCO Intl
Wesco International is an industrial distributor that has three reportable segments, electrical and electronic solutions, communications and security solutions, and utility and broadband solutions. The company offers more than 1.5 million products to its 140,000 active customers through a distribution network of 800 branches, warehouses, and sales offices, including 43 distribution centers. Wesco generates approximately 74% of its sales in the United States, but it has a global reach, with operations in 50 other countries.
Having examined the options trading patterns of WESCO Intl, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of WESCO Intl
- Currently trading with a volume of 427,292, the WCC's price is up by 1.29%, now at $173.0.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 1 days.
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 WESCO Intl with Benzinga Pro for real-time alerts.
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