Someone with a lot of money to spend (and possibly insider knowledge) has taken an unusually bearish stance on TilrayTLRY.
And retail traders should know.
We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with TLRY, it often means somebody knows something is about to happen.
So how do we know what the Smart Money just did?
Today, Benzinga's options scanner spotted 6 uncommon options trades for Tilray.
This isn't normal.
The overall sentiment of these big-money traders is split between 33.33% bullish and 66.67%, bearish.
Out of all of the special options we uncovered, there was 1 put, for a total amount of $46,985, and there was 1 call, for a total amount of $174,711.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that the smart money is targeting a price range from $10.5 to $15.0 for Tilray in the over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the total open interest for Tilray big money options trades today is 49,338 with a total volume of 6,629.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Tilray's big money trades within a strike price range of $10.5 to $15.0 over the last 30 days.
Tilray Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| TLRY | CALL | TRADE | BEARISH | 03/18/22 | $13.00 | $48.0K | 1.1K | 334 |
| TLRY | PUT | SWEEP | BEARISH | 10/15/21 | $10.50 | $46.9K | 2.9K | 1.6K |
| TLRY | CALL | TRADE | BEARISH | 01/21/22 | $11.00 | $43.8K | 2.2K | 453 |
| TLRY | CALL | TRADE | BEARISH | 10/08/21 | $12.00 | $29.6K | 8.8K | 1.4K |
| TLRY | CALL | TRADE | BULLISH | 01/21/22 | $15.00 | $28.2K | 26.2K | 542 |
Where Is Tilray Standing Right Now?
- With a volume of 11,942,772, the price of TLRY is down -2.62% over the last 24 hours at $10.81.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 1 days.
What The Experts Say On Tilray:
- Cantor Fitzgerald has decided to maintain their Overweight rating on Tilray, which currently sits at a price target of $18.0.
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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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