Someone with a lot of money to spend has taken a bearish stance on Bed Bath & Beyond BBBY.
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 BBBY, 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 11 uncommon options trades for Bed Bath & Beyond.
This isn't normal.
The overall sentiment of these big-money traders is split between 45% bullish and 54%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $938,057, and 4 are calls, for a total amount of $856,373.
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 $10.0 to $20.0 for Bed Bath & Beyond 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 Bed Bath & Beyond'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 Bed Bath & Beyond's whale trades within a strike price range from $10.0 to $20.0 in the last 30 days.
Bed Bath & Beyond 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 |
|---|---|---|---|---|---|---|---|---|
| BBBY | CALL | SWEEP | BULLISH | 01/20/23 | $10.00 | $672.6K | 21.8K | 19.6K |
| BBBY | PUT | SWEEP | BEARISH | 08/19/22 | $17.00 | $254.0K | 1.2K | 250 |
| BBBY | PUT | SWEEP | NEUTRAL | 08/19/22 | $17.00 | $187.5K | 1.2K | 150 |
| BBBY | PUT | TRADE | BEARISH | 08/19/22 | $18.00 | $137.0K | 501 | 0 |
| BBBY | PUT | SWEEP | BULLISH | 08/19/22 | $17.00 | $127.0K | 1.2K | 250 |
Where Is Bed Bath & Beyond Standing Right Now?
- With a volume of 9,493,148, the price of BBBY is down -10.76% at $4.43.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 90 days.
What The Experts Say On Bed Bath & Beyond:
- UBS has decided to maintain their Sell rating on Bed Bath & Beyond, which currently sits at a price target of $5.
- Baird has decided to maintain their Neutral rating on Bed Bath & Beyond, which currently sits at a price target of $7.
- Wedbush has decided to maintain their Neutral rating on Bed Bath & Beyond, which currently sits at a price target of $7.
- Morgan Stanley has decided to maintain their Underweight rating on Bed Bath & Beyond, which currently sits at a price target of $2.
- Keybanc has decided to maintain their Underweight rating on Bed Bath & Beyond, which currently sits at a price target of $2.
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 Bed Bath & Beyond, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
