A whale with a lot of money to spend has taken a noticeably bearish stance on Zendesk.
Looking at options history for Zendesk ZEN we detected 37 strange trades.
If we consider the specifics of each trade, it is accurate to state that 5% of the investors opened trades with bullish expectations and 94% with bearish.
From the overall spotted trades, 33 are puts, for a total amount of $3,013,882 and 4, calls, for a total amount of $146,458.
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 $70.0 to $100.0 for Zendesk over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Zendesk options trades today is 2108.6 with a total volume of 80,763.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Zendesk's big money trades within a strike price range of $70.0 to $100.0 over the last 30 days.
Zendesk 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 |
|---|---|---|---|---|---|---|---|---|
| ZEN | PUT | SWEEP | BEARISH | 07/01/22 | $85.00 | $341.4K | 6.0K | 1.4K |
| ZEN | PUT | SWEEP | NEUTRAL | 07/15/22 | $90.00 | $244.8K | 1.3K | 159 |
| ZEN | PUT | SWEEP | BEARISH | 07/01/22 | $85.00 | $214.2K | 6.0K | 4.7K |
| ZEN | PUT | SWEEP | BEARISH | 07/01/22 | $85.00 | $175.7K | 6.0K | 3.6K |
| ZEN | PUT | SWEEP | BEARISH | 07/01/22 | $85.00 | $147.3K | 6.0K | 2.6K |
Where Is Zendesk Standing Right Now?
- With a volume of 17,894,874, the price of ZEN is up 27.75% at $74.03.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 34 days.
What The Experts Say On Zendesk:
- Evercore ISI Group has decided to maintain their In-Line rating on Zendesk, which currently sits at a price target of $66.
- Stifel has decided to maintain their Buy rating on Zendesk, which currently sits at a price target of $100.
- Morgan Stanley downgraded its action to Equal-Weight with a price target of $80
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 Zendesk, Benzinga Pro gives you real-time options trades alerts.
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