Someone with a lot of money to spend has taken a bearish stance on Tilray TLRY.
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 this whale just did?
Today, Benzinga's options scanner spotted 13 uncommon options trades for Tilray.
This isn't normal.
The overall sentiment of these big-money traders is split between 23.08% bullish and 76.92%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $60,230.00, and 11 are calls, for a total amount of $540,242.00.
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 $5.0 to $40.0 for Tilray over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Tilray options trades today is 5553.38 with a total volume of 8,291.00.
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 $5.0 to $40.0 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 | SWEEP | BEARISH | 03/18/22 | $10.00 | $117.3K | 5.7K | 826 |
| TLRY | CALL | SWEEP | BULLISH | 03/18/22 | $10.00 | $85.0K | 5.7K | 1.3K |
| TLRY | CALL | SWEEP | BEARISH | 03/18/22 | $10.00 | $76.5K | 5.7K | 1.3K |
| TLRY | CALL | SWEEP | NEUTRAL | 01/19/24 | $5.00 | $49.0K | 385 | 148 |
| TLRY | CALL | SWEEP | BULLISH | 12/17/21 | $6.00 | $34.0K | 246 | 201 |
Where Is Tilray Standing Right Now?
- With a volume of 11,735,630.00, the price of TLRY is up 1.08% at $9.37.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 12 days.
What The Experts Say On Tilray:
- Barclays downgraded its action to Underweight with a price target of $10.0
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.
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