This Is What Whales Are Betting On Akamai Technologies

Someone with a lot of money to spend has taken a bearish stance on Akamai Technologies AKAM.

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 AKAM, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 11 options trades for Akamai Technologies.

This isn't normal.

The overall sentiment of these big-money traders is split between 27% bullish and 72%, bearish.

Out of all of the options we uncovered, 10 are puts, for a total amount of $1,552,674, and there was 1 call, for a total amount of $26,125.

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 $87.5 to $150.0 for Akamai Technologies over the last 3 months.

Volume & Open Interest Development

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 Akamai Technologies'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 Akamai Technologies's whale trades within a strike price range from $87.5 to $150.0 in the last 30 days.

Akamai Technologies Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Where Is Akamai Technologies Standing Right Now?

• With a volume of 2,647,844, the price of AKAM is down -3.44% at $95.28.
• RSI indicators hint that the underlying stock may be oversold.
• Next earnings are expected to be released in 88 days.

What The Experts Say On Akamai Technologies:

• Morgan Stanley has decided to maintain their Equal-Weight rating on Akamai Technologies, which currently sits at a price target of $118.
• Piper Sandler has decided to maintain their Neutral rating on Akamai Technologies, which currently sits at a price target of $126.
• RBC Capital has decided to maintain their Outperform rating on Akamai Technologies, which currently sits at a price target of $135.
• Raymond James has decided to maintain their Outperform rating on Akamai Technologies, which currently sits at a price target of $115.
• Baird downgraded its action to Neutral with a price target of $102

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 want to stay updated on the latest options trades for {d[company_name]}, Benzinga Progives you real-time options trades alerts.