Check Out What Whales Are Doing With PSTG

Someone with a lot of money to spend has taken a bullish stance on Pure Storage PSTG.

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

Today, Benzinga's options scanner spotted 12 options trades for Pure Storage.

This isn't normal.

The overall sentiment of these big-money traders is split between 91% bullish and 8%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $53,771, and 11, calls, for a total amount of $594,623..

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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 $30.0 for Pure Storage over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Pure Storage'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 Pure Storage's whale activity within a strike price range from $20.0 to $30.0 in the last 30 days.

Pure Storage Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Where Is Pure Storage Standing Right Now?

• With a volume of 9,382,376, the price of PSTG is up 17.74% at $28.27.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 83 days.

What The Experts Say On Pure Storage:

• B of A Securities downgraded its action to Neutral with a price target of $27
• Keybanc has decided to maintain their Overweight rating on Pure Storage, which currently sits at a price target of $34.
• Northland Capital Markets has decided to maintain their Outperform rating on Pure Storage, which currently sits at a price target of $44.

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.