A whale with a lot of money to spend has taken a noticeably bearish stance on Virgin Galactic Hldgs.
Looking at options history for Virgin Galactic Hldgs SPCE we detected 11 strange trades.
If we consider the specifics of each trade, it is accurate to state that 36% of the investors opened trades with bullish expectations and 63% with bearish.
From the overall spotted trades, 9 are puts, for a total amount of $2,156,856 and 2, calls, for a total amount of $149,000.
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 $6.0 to $27.0 for Virgin Galactic Hldgs over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Virgin Galactic Hldgs options trades today is 7405.33 with a total volume of 11,480.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Virgin Galactic Hldgs's big money trades within a strike price range of $6.0 to $27.0 over the last 30 days.
Virgin Galactic Hldgs 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 |
|---|---|---|---|---|---|---|---|---|
| SPCE | PUT | TRADE | BULLISH | 07/15/22 | $10.00 | $1.7M | 11.9K | 5.2K |
| SPCE | PUT | TRADE | BULLISH | 07/15/22 | $15.00 | $166.0K | 2.8K | 200 |
| SPCE | CALL | TRADE | BULLISH | 07/15/22 | $10.00 | $105.0K | 14.9K | 5.0K |
| SPCE | PUT | SWEEP | BEARISH | 01/20/23 | $22.00 | $60.2K | 5.6K | 39 |
| SPCE | CALL | TRADE | NEUTRAL | 01/20/23 | $6.00 | $44.0K | 327 | 205 |
Where Is Virgin Galactic Hldgs Standing Right Now?
- With a volume of 4,368,182, the price of SPCE is down -5.28% at $6.64.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 64 days.
What The Experts Say On Virgin Galactic Hldgs:
- Canaccord Genuity downgraded its action to Hold with a price target of $8
- Truist Securities downgraded its action to Hold with a price target of $8
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.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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