Looking At Sunnova Energy's Recent Whale Trades

Looking At Sunnova Energy's Recent Whale Trades

 

Someone with a lot of money to spend has taken a bullish stance on Sunnova Energy Intl NOVA.

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

Today, Benzinga's options scanner spotted 14 options trades for Sunnova Energy Intl.

This isn't normal.

The overall sentiment of these big-money traders is split between 71% bullish and 28%, bearish.

Out of all of the options we uncovered, 13 are puts, for a total amount of $788,460, and there was 1 call, for a total amount of $29,000.

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 $25.0 to $45.0 for Sunnova Energy Intl 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 Sunnova Energy Intl'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 Sunnova Energy Intl's whale trades within a strike price range from $25.0 to $45.0 in the last 30 days.

Sunnova Energy Intl 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
NOVA PUT TRADE NEUTRAL 01/19/24 $35.00 $135.9K 11 410
NOVA PUT TRADE BEARISH 01/19/24 $35.00 $109.0K 11 208
NOVA PUT TRADE BEARISH 01/19/24 $35.00 $65.1K 11 64
NOVA PUT SWEEP BULLISH 10/21/22 $30.00 $65.1K 46 157
NOVA PUT TRADE BULLISH 01/20/23 $45.00 $53.3K 1 258

Where Is Sunnova Energy Intl Standing Right Now?

  • With a volume of 3,689,295, the price of NOVA is up 1.81% at $28.08.
  • RSI indicators hint that the underlying stock may be overbought.
  • Next earnings are expected to be released in 79 days.

What The Experts Say On Sunnova Energy Intl:

  • Wells Fargo has decided to maintain their Equal-Weight rating on Sunnova Energy Intl, which currently sits at a price target of $27.
  • JP Morgan has decided to maintain their Overweight rating on Sunnova Energy Intl, which currently sits at a price target of $54.
  • JP Morgan has decided to maintain their Overweight rating on Sunnova Energy Intl, which currently sits at a price target of $43.
  • Barclays downgraded its action to Overweight with a price target of $35
  • Piper Sandler downgraded its action to Neutral with a price target of $23

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 Sunnova Energy Intl, Benzinga Pro gives you real-time options trades alerts.

Posted In: BZI-UOAOptionsMarkets