Array Technologies Whale Trades For August 05

Someone with a lot of money to spend has taken a bullish stance on Array Technologies ARRY.

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

Today, Benzinga's options scanner spotted 10 options trades for Array Technologies.

This isn't normal.

The overall sentiment of these big-money traders is split between 60% bullish and 40%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $40,000, and 9, calls, for a total amount of $503,729..

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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 $2.5 to $17.5 for Array Technologies 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 Array Technologies'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 Array Technologies's whale trades within a strike price range from $2.5 to $17.5 in the last 30 days.

Array Technologies Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Where Is Array Technologies Standing Right Now?

• With a volume of 4,677,719, the price of ARRY is up 4.05% at $17.97.
• RSI indicators hint that the underlying stock may be overbought.
• Next earnings are expected to be released in 4 days.

What The Experts Say On Array Technologies:

• Piper Sandler has decided to maintain their Neutral rating on Array Technologies, which currently sits at a price target of $14.
• Credit Suisse has decided to maintain their Outperform rating on Array Technologies, which currently sits at a price target of $16.
• Truist Securities has decided to maintain their Hold rating on Array Technologies, which currently sits at a price target of $13.
• Barclays downgraded its action to Overweight with a price target of $20
• JP Morgan has decided to maintain their Overweight rating on Array Technologies, which currently sits at a price target of $28.

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 Array Technologies, Benzinga Pro gives you real-time options trades alerts.