Behind the Scenes of Soleno Therapeutics's Latest Options Trends

Deep-pocketed investors have adopted a bearish approach towards Soleno Therapeutics SLNO, 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 SLNO usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 15 extraordinary options activities for Soleno Therapeutics. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 33% leaning bullish and 53% bearish. Among these notable options, 3 are puts, totaling $113,772, and 12 are calls, amounting to $879,674.

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Predicted Price Range

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 $85.0 for Soleno Therapeutics over the last 3 months.

Analyzing Volume & Open Interest

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Soleno Therapeutics's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Soleno Therapeutics's whale trades within a strike price range from $45.0 to $85.0 in the last 30 days.

Soleno Therapeutics Option Volume And Open Interest Over Last 30 Days

Largest Options Trades Observed:

About Soleno Therapeutics

Soleno Therapeutics Inc is a biopharmaceutical company developing novel therapeutics for the treatment of rare diseases. Its product candidate DCCR (Diazoxide Choline) Extended-Release tablets, is a proprietary extended-release formulation of a crystalline salt of diazoxide. DCCR has demonstrated the ability to activate the KATP channel in the brain, pancreas, and fat tissue.

Following our analysis of the options activities associated with Soleno Therapeutics, we pivot to a closer look at the company's own performance.

Where Is Soleno Therapeutics Standing Right Now?

• With a volume of 1,702,545, the price of SLNO is up 35.09% at $66.16.
• RSI indicators hint that the underlying stock may be overbought.
• Next earnings are expected to be released in 42 days.

What The Experts Say On Soleno Therapeutics

4 market experts have recently issued ratings for this stock, with a consensus target price of $92.25.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from HC Wainwright & Co. downgraded its action to Buy with a price target of $70. * An analyst from Stifel downgraded its action to Buy with a price target of $74. * An analyst from Baird persists with their Outperform rating on Soleno Therapeutics, maintaining a target price of $102. * An analyst from Cantor Fitzgerald persists with their Overweight rating on Soleno Therapeutics, maintaining a target price of $123.

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 Soleno Therapeutics options trades with real-time alerts from Benzinga Pro.