Big Lots Whale Trades For May 27

Someone with a lot of money to spend has taken a bearish stance on Big Lots BIG.

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 BIG, 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 Big Lots.

This isn't normal.

The overall sentiment of these big-money traders is split between 38% bullish and 61%, bearish.

Out of all of the special options we uncovered, 10 are puts, for a total amount of $471,469, and 3 are calls, for a total amount of $114,533.

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 $20.0 to $32.5 for Big Lots over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Big Lots options trades today is 5598.29 with a total volume of 14,427.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Big Lots's big money trades within a strike price range of $20.0 to $32.5 over the last 30 days.

Big Lots Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Where Is Big Lots Standing Right Now?

• With a volume of 5,135,220, the price of BIG is down -12.56% at $26.8.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 0 days.

What The Experts Say On Big Lots:

• B of A Securities has decided to maintain their Underperform rating on Big Lots, which currently sits at a price target of $25.
• Piper Sandler has decided to maintain their Neutral rating on Big Lots, which currently sits at a price target of $29.
• Deutsche Bank has decided to maintain their Hold rating on Big Lots, which currently sits at a price target of $31.
• Telsey Advisory Group has decided to maintain their Market Perform rating on Big Lots, which currently sits at a price target of $32.
• Piper Sandler has decided to maintain their Neutral rating on Big Lots, which currently sits at a price target of $34.

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.